A firm with cost of goods sold of $3745 and inventories of $714 has an inventory...

Question

Question

Answer 1

Answer #1

Inventory turnover ratio is calculated as:
(Cost of goods sold)/(Average inventory)
Substituting the values, we get;

Inventory turnover ratio=(3745)/(714)=5.245 or 5.25 (Rounded to two decimal places)

Answer 2

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