Calculate the average inventory (in $) and inventory turnover ratio for the given company. (Round the inventory turnover ratio to one decimal place.)BeginningInventoryCompanyEndingInventoryAverageInventoryCost ofGoods SoldInventoryTurnoveran online gift retailer$856,830 $943,780 $$3,237,500

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Description: Calculate the average inventory (in $) and inventory turnover ratio for the given company. (Round the inventory turnover ratio to one decimal place.)BeginningInventoryCompanyEndingInventoryAverageInventoryCost ofGoods SoldInventoryTurnoveran online

Inventory turnover ratio = cost of goods sold / Average inventory Average inventory = Beginning…

Business

Accounting

Calculate the average inventory (in $) and inventory turnover ratio for the given company. (Round the inventory turnover ratio to one decimal place.) Company Beginning Ending Inventory Inventory Average Inventory Cost of Goods Sold Inventory Turnover an online gift retailer $856,830 $943,780 $3,237,500 $

Calculate the average inventory (in $) and inventory turnover ratio for the given company. (Round the inventory turnover ratio to one decimal place.) Company Beginning Ending Inventory Inventory Average Inventory Cost of Goods Sold Inventory Turnover an online gift retailer $856,830 $943,780 $3,237,500 $

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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Please only answer parts a+b