Question
Resale Sports had inventory of$8,000 on Jan1, 20X3, and$12,000 on Dec31, 20X3. Sales for 20X3 were$250,000 and thecompany's gross profit percentage was35%. What was the
Resale Sports had inventory of$8,000 on Jan1, 20X3, and$12,000 on Dec31, 20X3. Sales for 20X3 were$250,000 and thecompany's gross profit percentage was35%. What was the inventory turnover for Resale Sports for20X3?
A.
7.29 times
B.
8.75 times
C.
25.00 times
D.
13.54 times
E.
16.25 times
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Introduction To Financial Accounting
Authors: Charles T Horngren, John A Elliott
9th Edition
0131479725, 978-0131479722
