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Business
Accounting
.  Inventory turnover is calculated as __________ divided by __________. cost of goods sold; inventory cost of goods sold; average inventory cost of goods sold; total assets average inventory; cost of goods sold     2.  The number of days’ sales in inventory is calculated as __________ divided by __________. average inventory; average daily cost of goods sold ending inventory; cost of goods sold net income; sales cost of goods sold; average inventory

.  Inventory turnover is calculated as __________ divided by __________. cost of goods sold; inventory cost of goods sold; average inventory cost of goods sold; total assets average inventory; cost of goods sold     2.  The number of days’ sales in inventory is calculated as __________ divided by __________. average inventory; average daily cost of goods sold ending inventory; cost of goods sold net income; sales cost of goods sold; average inventory

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1.  Inventory turnover is calculated as __________ divided by __________.

  1. cost of goods sold; inventory
  2. cost of goods sold; average inventory
  3. cost of goods sold; total assets
  4. average inventory; cost of goods sold

 

 

2.  The number of days’ sales in inventory is calculated as __________ divided by __________.

  1. average inventory; average daily cost of goods sold
  2. ending inventory; cost of goods sold
  3. net income; sales
  4. cost of goods sold; average inventory

 

 

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