Question
BrambleCorporation had net credit sales of $14100000 and cost of goods sold of $9370000 for the year. The average inventory for the year amounted to
BrambleCorporation had net credit sales of $14100000 and cost of goods sold of $9370000 for the year. The average inventory for the year amounted to $1171250. The inventory turnover for the year is
A. 8.0 times.
B. 12.0 times.
C. 3.3 times.
D. 1.5 times.
please include equation so I can understand how to solve this. Thank you.
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Financial Accounting Tools For Business Decision Making
Authors: Paul D. Kimmel
3rd Canadian Edition
0470836792, 978-0470836798
