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Henly Custom Automotive Interiors has collected the following information from the past two years. You are a new hire as a Procurement Specialist and have
Henly Custom Automotive Interiors has collected the following information from the past two years. You are a new hire as a Procurement Specialist and have been asked to look at and comment on their inventory performance. Rounded to 1 Decimal place, what is the 2019 Inventory Turnover?
2019 | 2020 | |
Cost of goods sold | 6,612,800 | 5,685,100 |
Raw Materials | 215,500 | 230,400 |
WIP | 560,000 | 580,000 |
Finished Goods | 350,800 | 362,000 |
Operating Supplies | 99,500 | 118,200 |
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