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An oil company, Shell corporation sells gasoline. During the current year, Shell corporation reported the cost of goods sold on its income statement of Php 428,695,211.50. Shell corporation beginning inventory was Php 115,246,901.00 and its ending inventory was Php 10, 987,265.00. Compute for the average inventory and inventory turnover ratio.

An oil company, Shell corporation sells gasoline. During the current year, Shell corporation reported the cost of goods sold on its income statement of Php 428,695,211.50. Shell corporation beginning inventory was Php 115,246,901.00 and its ending inventory was Php 10, 987,265.00. Compute for the average inventory and inventory turnover ratio.

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
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3. An oil company, Shell corporation sells gasoline. During the current year, Shell corporation reported the cost of goods sold on its income statement of Php 428,695,211.50. Shell corporation beginning inventory was Php 115,246,901.00 and its ending inventory was Php 10, 987,265.00. Compute for the average inventory and inventory turnover ratio.
Transcribed Image Text:3. An oil company, Shell corporation sells gasoline. During the current year, Shell corporation reported the cost of goods sold on its income statement of Php 428,695,211.50. Shell corporation beginning inventory was Php 115,246,901.00 and its ending inventory was Php 10, 987,265.00. Compute for the average inventory and inventory turnover ratio.
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