Question
Net sales $225,000 Cost of goods sold 160,000 Beginning inventory 50,000 Ending inventory 40,000 a. Calculate the inventory turnover ratio. b. Calculate the average days
Net sales $225,000
Cost of goods sold 160,000
Beginning inventory 50,000
Ending inventory 40,000
a. Calculate the inventory turnover ratio.
b. Calculate the average days in inventory.
c. Calculate the gross profit ratio.
Need to find the following:
Inventory turnover ratio
Average Days in inventory
Gross profit ratio
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Cost Management Accounting And Control
Authors: Don R. Hansen, Maryanne M. Mowen
4th Edition
0324069731, 978-0324069730
