Solve the Average Merchandise Inventory and Inventory Turnover for 2017, 2018, and 2019.
Homework Answers
| COGS | / | Avg Merch Inv | |||
| 2019 | $ 1,39,000 | / | $ 26,500 | = | 5.25 |
| 2018 | $ 1,18,000 | / | $ 32,000 | = | 3.69 |
| 2017 | $ 1,01,000 | / | $ 42,500 | = | 2.38 |
| 365 | / | Inv Turnover | |||
| 2019 | 365 | / | 5.25 | = | 69.59 |
| 2018 | 365 | / | 3.69 | = | 98.98 |
| 2017 | 365 | / | 2.38 | = | 153.59 |
| 2019 | 2018 | 2017 | |||
| Beginning Inventory | $ 26,000 | $ 38,000 | $ 47,000 | ||
| Add: | Ending Inventory | $ 27,000 | $ 26,000 | $ 38,000 | |
| (i) | Total | $ 53,000 | $ 64,000 | $ 85,000 | |
| (i) / 2 | Avg Merch Inv | $ 26,500 | $ 32,000 | $ 42,500 | |
| Note: Answer rounded off to 2 decimal places | |||||
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Solve the Average Merchandise Inventory and Inventory Turnover
for 2017, 2018, and 2019.
2018 $ 2017...
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