Question
Micro Manufacturing Company's sales revenue amounted to $1,880,000 during the year. Cost of goods sold as a percentage of sales was 30%. Beginning inventory balance
Micro Manufacturing Company's sales revenue amounted to $1,880,000 during the year. Cost of goods sold as a percentage of sales was 30%. Beginning inventory balance was $125,000 and ending inventory balance was $165,000. What was the company's inventory turnover ratio for the year?
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Artificial Intelligence For Audit Forensic Accounting And Valuation A Strategic Perspective
Authors: Al Naqvi
1st Edition
1119601886, 978-1119601883
