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Problem 3 - 4 Calculating Inventory Turnover [ LO 2 ] The Top Corporation has ending inventory of $ 4 6 3 , 0 0
Problem Calculating Inventory Turnover LO
The Top Corporation has ending inventory of $ and cost of goods sold for the year just ended was $
a What is the inventory turnover? Do not round intermediate calculations and round your answer to decimal places, eg
b What is the days' sales in inventory? Use days a year. Do not round intermediate calculations and round your answer to decimal places, eg
c How long on average did a unit of inventory sit on the shelf before it was sold? Use days a year. Do not round intermediate calculations and round your answer to decimal places, eg
tablea Inventory turnover,,timesb Days' sales in inventory,,daysc Inventory days on shelf,,days
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