Question
Medina Enterprises The following selected financial information is available for Medina for the year ended December 31, 2010: Net sales $450,000 Inventory, 1/1/10 $48,400 Cost
Medina Enterprises The following selected financial information is available for Medina for the year ended December 31, 2010:
| Net sales | $450,000 | Inventory, 1/1/10 | $48,400 |
| Cost of goods sold | $299,500 | Inventory 12/31/10 | $49,670 |
Refer to the information provided for Medina Enterprises. What is the inventory turnover ratio for 2010?
| a. | 6.889 | |
| b. | 7.030 | |
| c. | 6.108 | |
| d. | 16.372 |
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Authors: Lester Evans
1st Edition
1647481813, 978-1647481810
