Question
Inventory Analysis A company reports the following: Cost of goods sold $297,110 Average inventory 54,020 Determine (a) the inventory turnover and (b) the number of
Inventory Analysis
A company reports the following:
| Cost of goods sold | $297,110 |
| Average inventory | 54,020 |
Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume 365 days a year.
| a. Inventory turnover | |
| b. Number of days' sales in inventory | days |
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Sound Investing, Chapter 5 - Cost Allocation
Authors: Kate Mooney
8th Edition
007171927X, 9780071719278
