Question
Inventory Analysis A company reports the following: Cost of goods sold $435,000 Average inventory 72,500 Determine (a) the inventory turnover and (b) the number of
Inventory Analysis
A company reports the following:
| Cost of goods sold | $435,000 |
| Average inventory | 72,500 |
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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Introductory Accounting Finance And Auditing For Lawyers
Authors: Lawrence Cunningham
6th Edition
0314280456, 978-0314280459
