A very important company has annual sales of 401 million and an average annual inventory valued at 15 million. With a cost of goods sold of 0.94 per sales dollar, what is the inventory turn value for the company? What average inventory turn value would produce a turn ratio of 173?

A very important company has annual sales of 401 million and an average annual inventory valued at 15 million. With a cost of goods sold of 0.94 per sales dollar, what is the inventory turn value for the company? What average inventory turn value would produce a turn ratio of 173?

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 15BEA: Last year, Nikkola Company had net sales of 2,299,500,000 and cost of goods sold of 1,755,000,000....

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Need help with this question solution general accounting

A very important company has annual sales of 401
million and an average annual inventory valued at 15
million. With a cost of goods sold of 0.94 per sales
dollar, what is the inventory turn value for the
company? What average inventory turn value would
produce a turn ratio of 173?

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