Bristol Furnishings reported the following inventory and cost data for the year: Goods available for sale = $140,000 Beginning inventory = $45,000 Ending inventory = $50,000 Cost of goods sold = $90,000 What is the inventory turnover ratio?

Bristol Furnishings reported the following inventory and cost data for the year: Goods available for sale = $140,000 Beginning inventory = $45,000 Ending inventory = $50,000 Cost of goods sold = $90,000 What is the inventory turnover ratio?

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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Question

Could you help me solve this financial accounting question using appropriate calculation techniques?

Bristol Furnishings reported the following inventory and cost data for
the year:
Goods available for sale = $140,000
Beginning inventory = $45,000
Ending inventory = $50,000
Cost of goods sold = $90,000
What is the inventory turnover ratio?

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