Homework Answers
Answer:
Inventory turnover ratio = cost is goods sold/average inventory
where average inventory = (Beginning inventory + Ending inventory)/2
on application of above formula.
average inventory = (36069+44506)/2 = $ 40287.5
Inventory turnover ratio = $165,391/$40,287.5 = 4.1 ( Rounded
off)
correct answer is 4.1
Thank you.
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