Bobbette's Company reported sales for 201x of $51 million. Bobbette's Company listed $32 million of inventory...
Bobbette's Company reported sales for 201x of $51 million. Bobbette's Company listed $32 million of inventory on its balance sheet. How many times per year did Bobbette's Company inventory turn over?
Homework Answers
Computation of Inventory Turnover:
Inventory Turnover = Net Sales / Inventory
= $51 million / $32 million
= 1.59 times.
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