Answered: Compute the inventory turnover ratio…

Compute the inventory turnover ratio based on the following data: Sales revenue $275,000 Cost of goods sold 168,000 Beginning inventory 35,000 Ending inventory 45,000

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

Compute the inventory turnover ratio based on the following data:

Sales revenue $275,000

Cost of goods sold 168,000

Beginning inventory 35,000

Ending inventory 45,000

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