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Knowledge Check 01 The records of Marys Shoes included the following information: Inventory, January 1 $ 75,000 Inventory, December 31 125,000 Net Sales 850,000 Cost
Knowledge Check 01
The records of Marys Shoes included the following information:
| Inventory, January 1 | $ | 75,000 | |
| Inventory, December 31 | 125,000 | ||
| Net Sales | 850,000 | ||
| Cost of Goods Sold | 400,000 | ||
What was the companys inventory turnover ratio for the year? (Round your answer to 1 decimal place.)
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Financial Accounting The Cornerstone Of Business Decision Making
Authors: Jay S Rich, Jeff Jones, Linda Ann Myers
5th Edition
0357132696, 978-0357132692
