Homework Answers
Answer :- Calculation of Merchandise Inventory Turnover:-
Merchandise inventory turnover = Cost of goods sold / Average Inventory
Merchandise Inventory Turnover = $1,645,000 / $176,000
Merchandise inventory turnover = 9.3465 or 9.35(rounded)
Working :-
Average inventory = ($153,000 + 193,000)/2
Average Inventory = $176,000
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