Cost of Goods Sold (Cost of sales) $1,000,000 Beginning Merchandise Inventory Ending Merchandise Inventory 335.000 350,000 Calculate the company's inventory turnover ratio for the year. (Round your answer to two decimal places.) O A. 2.92 times per year O B. 1.46 times per year OC. 2.86 times per year O D. 2.99 times per year
Cost of Goods Sold (Cost of sales) $1,000,000 Beginning Merchandise Inventory Ending Merchandise Inventory 335.000 350,000 Calculate the company's inventory turnover ratio for the year. (Round your answer to two decimal places.) O A. 2.92 times per year O B. 1.46 times per year OC. 2.86 times per year O D. 2.99 times per year
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter7: Inventories
Section: Chapter Questions
Problem 7CP
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![Anderson Farms, Inc. provided the following for 2018:
Cost of Goods Sold (Cost of sales)
Beginning Merchandise Inventory
Ending Merchandise Inventory
$1,000,000
335,000
350,000
Calculate the company's inventory turnover ratio for the year. (Round your answer to two decimal places.)
O A. 2.92 times per year
O B. 1.46 times per year
O C. 2.86 times per year
O D. 2.99 times per year](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd6158d43-334d-4161-8a0f-ff9657025746%2F3fc73ebe-82b1-4bda-a23b-d14d5b5866b5%2F1tsrsz_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Anderson Farms, Inc. provided the following for 2018:
Cost of Goods Sold (Cost of sales)
Beginning Merchandise Inventory
Ending Merchandise Inventory
$1,000,000
335,000
350,000
Calculate the company's inventory turnover ratio for the year. (Round your answer to two decimal places.)
O A. 2.92 times per year
O B. 1.46 times per year
O C. 2.86 times per year
O D. 2.99 times per year
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