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Calculate the inventory turnover time (days) The following financial statements of Thermitrex (Pty) Ltd in Dunswart Industrial Area Johannesburg are provided to you: begin{tabular}{|l|r|} hline
Calculate the inventory turnover time (days)
The following financial statements of Thermitrex (Pty) Ltd in Dunswart Industrial Area Johannesburg are provided to you: \begin{tabular}{|l|r|} \hline Total assets & 3000000 \\ \hline & \\ \hline EQUITY AND LIABILITIES & \\ \hline Share capital & 1250000 \\ \hline Retained earnings & 500000 \\ \hline Ordinary shareholders' equity & 1750000 \\ \hline Preference shares & 225000 \\ \hline Shareholders' equity & 1975000 \\ \hline Total equity & 1975000 \\ \hline & \\ \hline \end{tabular} \begin{tabular}{|l|l|} \hline Uividenas payabie & IUU UUY \\ \hline Current liabilities & 480000 \\ \hline & \\ \hline Total equity and liabilities & 3000000 \\ \hline & \\ \hline \end{tabular} THERMITREX (PTY) LTD STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2021 \begin{tabular}{|l|r|} \hline & R \\ \hline Revenue & 2450000 \\ \hline Cost of sales and services rendered (1450000) \\ \hline Gross profit & 1000000 \\ \hline Operating expenses & (250000) \\ \hline Operating profit & 750000 \\ \hline Investment income & 80000 \\ \hline Finance cost & (65000) \\ \hline Profit before tax & 765000 \\ \hline \end{tabular} Assume a 365 days year cycle REQUIRED: Based on the information provided, you are required to calculate the following: Inventory turnover time (days) Step by Step Solution
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