If the annual cost of goods sold is $10,000,000 and the average inventory is $2,000,000,what is...
If the annual cost of goods sold is $10,000,000 and the average inventory is $2,000,000,what is the turns ratio?
$8,000,000
5 0.2
20%
cannot be calculated from the information given
Homework Answers
Answer
Annual cost of goods sold=$ 10000000
Average inventory is = $ 2000000
The turns ratio = cogs/average inventory
=10000000/2000000
=5:1
Therefore the answer is 5
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