Question
The following information came from the income statement of the Wilkens Company at December 31, 2017: sales revenue $1,800,000; beginning inventory $160,000; ending inventory $240,000;
The following information came from the income statement of the Wilkens Company at December 31, 2017: sales revenue $1,800,000; beginning inventory $160,000; ending inventory $240,000; and gross profit $600,000. What is Wilkens' inventory turnover ratio for 2017?
A. 3.75 times
B. 6.0 times
C. 3.0 times
D. 2.5 times
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Comparative International Accounting
Authors: Christopher Nobes, Robert Parker
13th edition
1292081902, 1292081908, 9781292081960 , 1292081961, 978-1292081908
