Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Cape Corporation has ending inventory of $483,824, and cost of goods sold for the year just ended was $4,233,460. What is the inventory turnover?

The Cape Corporation has ending inventory of $483,824, and cost of goods sold for the year just ended was $4,233,460.

What is the inventory turnover? (Round your answer to 2 decimal places. (e.g., 32.16))

Inventory turnover times

What is the days' sales in inventory? (Use 365 days a year. Round your answer to 2 decimal places. (e.g., 32.16))

Days' sales in inventory days

How long on average did a unit of inventory sit on the shelf before it was sold? (Use 365 days a year. Round your answer to 2 decimal places. (e.g., 32.16))

Inventory days on shelf days

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles Of Sustainable Finance

Authors: Dirk Schoenmaker, Willem Schramade

1st Edition

0198826605, 978-0198826606

More Books

Students also viewed these Finance questions