A company reports annual sales of $5 million, cost of goods sold of $2 million, inventory...

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A company reports annual sales of $5 million, cost of goods sold of $2 million, inventory...

A company reports annual sales of $5 million, cost of goods sold of $2 million, inventory of $0.5 million, and net income of $0.75 million. What are the company's annual inventory turns?

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Answer 1

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Answer #1

Given that,

Annual sales = $5 million

CoGS = $2 million

Inventory = $0.5 million

Net income = $0.75 million

Annual Inventory turns (ITR) = CoGS / Inventory = 2 / 0.5 = 4

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Answer 2

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A company reports annual sales of $5 million, cost of goods sold of $2 million, inventory...

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A company reports annual sales of $5 million, cost of goods sold of $2 million, inventory...

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