Logan Inc. has the following selecting financial information: December 31 2018 2019 Sales $250,000 $275,000 COGS...
Logan Inc. has the following selecting financial information: December 31 2018 2019 Sales $250,000 $275,000 COGS $125,000 $162,000 Operating Expenses $40,000 $45,000 Fixed Assets $90,000 $100,000 Inventory $60,000 $70,000 Current Liabilities $ 13,000 $ 15,000
16. Logan’s 2019 inventory turnover is closest to? A. 1.92 B. 2.08 C. 2.31 D. 2.49
17. Logan’s 2019 Fixed Assets turnover is closest to? A. 2.89 B. 1.19 C. 0.72 D. 2.75
Homework Answers
16. inventory turnover = COGS / Average inventory
= 162,000 / (60000+70000)/2
= 2.49 times
Option D. is correct answer.
17. Fixed Assets turnover = Sales / average fixed assets
= 275000 / (90000+100000)/2
= 2.89 times
Option A. is correct answer.
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Logan Inc. has the following selecting financial information:
December 31 2018 2019 Sales $250,000 $275,000 COGS...
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