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For January the restaurant purchased $32,000 of food. Opening inventory for January is $15,200 and closing inventory is $11,750. How often (in number of days)
For January the restaurant purchased $32,000 of food. Opening inventory for January is $15,200 and closing inventory is $11,750. How often (in number of days) does this restaurant's inventory turnover?
a, What is the Cost of Food Sold?
b, What is the Average Inventory?
c, What is the inventory turnover in days (31 days/month)?
d, Is the turnover rate good or bad? Why?
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