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The following data were taken from Castle, Inc. Cost of merchandise sold $894,000 Inventory, end of year 78,000 Inventory, beginning of the year 92,000 Determine
The following data were taken from Castle, Inc.
| Cost of merchandise sold | $894,000 | |
| Inventory, end of year | 78,000 | |
| Inventory, beginning of the year | 92,000 |
Determine the inventory turnover ratio and the days' sales in inventory for Castle Inc. Round to two decimal places. Use a 365-day year.
| Inventory turnover | |
| Days Sales in Inventory | days |
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Financial Accounting An Introduction To Concepts Methods And Uses
Authors: Clyde P. Stickney, Roman L. Weil
12th Edition
0324381980, 978-0324381986
