Question
Inventory Analysis company reports the following: Cost of goods sold $385,440 Average inventory 64,240 Determine (a) theinventory turnoverand (b) thenumber of days' sales in inventory.
Inventory Analysis
company reports the following:
Cost of goods sold $385,440
Average inventory 64,240
Determine (a) theinventory turnoverand (b) thenumber 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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College Accounting Chapters 1-30
Authors: John Price, M. David Haddock, Michael Farina
15th edition
1259994975, 125999497X, 1259631117, 978-1259631115
