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The cost of goods sold computations for Grouper Company and Monty Company are as follows. Grouper Company Monty Company Beginning inventory $50,000 $71,000 Cost
The cost of goods sold computations for Grouper Company and Monty Company are as follows. Grouper Company Monty Company Beginning inventory $50,000 $71,000 Cost of goods purchased 194,500 292,945 Cost of goods available for sale 244,500 363,945 Ending inventory 55,655 73,500 Cost of goods sold $188,845 $290,445 (a1) Compute inventory turnover for each company. (Round answers to 2 decimal places, e.g. 15.25.) Grouper Company Inventory turnover Monty Company
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