Question
Below is selected financial information for SED Inc. 2023 2022 2021 2020 Ending Inventory $5,500 $6,500 $8,000 $9,000 Cost of Goods Sold
Below is selected financial information for SED Inc.
| 2023 | 2022 | 2021 | 2020 |
Ending Inventory | $5,500 | $6,500 | $8,000 | $9,000 |
Cost of Goods Sold | 45,000 | 82,000 | 60,000 | 75,000 |
How much is the inventory turnover ratio in 2022?
Select one:
a. 7.06
b. Cannot be determined
c. 11.31
d. 32
Step by Step Solution
There are 3 Steps involved in it
Step: 1
The inventory turnover ratio is calculated by dividi...
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Intermediate Accounting IFRS
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
4th Edition
1119607515, 978-1119607519
