Calculate the average inventory (in $) and inventory turnover ratio for the given company. (Round the inventory turnover ratio to one decimal place.) Company Beginning Inventory Ending Inventory Average Inventory Cost of Goods Sold Inventory Turnover a hardware store $317,230 $300,060 $ $4,956,470

Calculate the average inventory (in $) and inventory turnover ratio for the given company. (Round the inventory turnover ratio to one decimal place.) Company Beginning Inventory Ending Inventory Average Inventory Cost of Goods Sold Inventory Turnover a hardware store $317,230 $300,060 $ $4,956,470

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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Question

Calculate the average inventory (in $) and inventory turnover ratio for the given company. (Round the inventory turnover ratio to one decimal place.)

Company	Beginning Inventory	Ending Inventory	Average Inventory	Cost of Goods Sold	Inventory Turnover
a hardware store	$317,230	$300,060	$	$4,956,470

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