Question
Blanchard, Inc. provided the following for 2017: Cost of GoodsSold (Cost of sales) $1,200,000 Beginning Merchandise Inventory 325,000 Ending Merchandise Inventory 625,000 Calculate the company's
Blanchard, Inc. provided the following for 2017:
Cost of GoodsSold (Cost of sales) $1,200,000 Beginning Merchandise Inventory 325,000 Ending Merchandise Inventory 625,000
Calculate the company's inventory turnover ratio for the year. (Round your answer to two decimal places.)
3.69 times per year
2.53 times per year
1.92 times per year
1.26 times per year
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Managerial Accounting
Authors: Sivaramakrishna, Ramji Balakrishnan
1st Edition
0471467855, 978-0471467854
