2017 2018 Net Sales Revenue $ 5,430 $ 6,080 Cost of Goods Sold 4,100 4,580 Average Inventory 765 880 Required: 1. 1-a. Calculate the inventory turnover ratio for 2018 and 2017.
2017 2018 Net Sales Revenue $ 5,430 $ 6,080 Cost of Goods Sold 4,100 4,580 Average Inventory 765 880 Required: 1. 1-a. Calculate the inventory turnover ratio for 2018 and 2017.
Chapter10: Inventory
Section: Chapter Questions
Problem 16PA: Use the following information relating to Clover Company to calculate the inventory turnover ratio,...
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![2017
2018
Net Sales Revenue
$ 5,430
$ 6,080
Cost of Goods Sold
4,100
4,580
Average Inventory
765
880
Required:
1. 1-a. Calculate the inventory turnover ratio for 2018 and 2017.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fcec60e8f-1165-4b2a-be0e-a0c72e0c06cd%2Ff3fe98e6-81f5-4f88-8899-2204a5745a31%2Fe0z2f5_processed.png&w=3840&q=75)
Transcribed Image Text:2017
2018
Net Sales Revenue
$ 5,430
$ 6,080
Cost of Goods Sold
4,100
4,580
Average Inventory
765
880
Required:
1. 1-a. Calculate the inventory turnover ratio for 2018 and 2017.
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