Marigold Department Store had net salss od 17500000 and cost of goods solf of 149500000 for...

Question

Question

Marigold Department Store had net salss od 17500000 and cost of goods solf of 149500000 for the year...

Answer 1

Answer #1

Solution:

Cost of goods sold = $14,950,000

Average inventory = $2,300,000

Inventory Turnover = Cost of goods sold / Average inventory = $14,950,000 / $2,300,000 = 6.5 times

Hence first option is correct.

Answer 2

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