Question
Inventory Analysis A company reports the following: Cost of goods sold $379,600 Average inventory 94,900 Determine (a) the inventory turnover and (b) the number of
Inventory Analysis
A company reports the following:
| Cost of goods sold | $379,600 |
| Average inventory | 94,900 |
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.
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Financial Accounting A Global Perspective
Authors: Robert Libby, Patricia Libby, Daniel G Short
5th Edition
0071107746, 978-0071107747
