Question
Roberts Department Store had net credit sales of $9,000,000 and cost of goods sold of $6,000,000 for the year. The average inventory for the year
Roberts Department Store had net credit sales of $9,000,000 and cost of goods sold of $6,000,000 for the year. The average inventory for the year amounted to $2,500,000. The inventory turnover ratio for the year is
| A. | 3.6 times. |
| B. | 3.2 times. . |
| C. | 3.0 times. |
| D. | 2.4 times. |
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College Accounting A Contemporary Approach
Authors: David Haddock, John Price, Michael Farina
4th edition
978-1259995057, 1259995054, 978-0077503987, 77503988, 978-0077639730
