Endor Company begins the year with $110,000 of goods in inventory. At year-end, the amount in inventory has increased to $121,000.Cost of goods sold for the year is $1,500,000.Compute Endor's inventory turnover and days' sales in inventory. Assume there are 365 days in the year.Inventory TurnoverChoose Numerator: 1 Choose Denominator:11Choose Numerator:Days' Sales in Inventory1 Choose Denominator: X1X1XDays365365Inventory TurnoverInventory Turnovertimes===Days' Sales in InventoryDays' sales in inventorydays

The inventory turnover tells about the efficiency of the business to convert its inventory into…

Endor Company begins the year with $110,000 of goods in inventory. At year-end, the amount in inventory has increased to $121,00 Cost of goods sold for the year is $1,500,000. Compute Endor's inventory turnover and days' sales in inventory. Assume there are 365 days in the year.

Endor Company begins the year with $110,000 of goods in inventory. At year-end, the amount in inventory has increased to $121,00 Cost of goods sold for the year is $1,500,000. Compute Endor's inventory turnover and days' sales in inventory. Assume there are 365 days in the year.

FINANCIAL ACCOUNTING

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Chapter1: Financial Statements And Business Decisions

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Question

Endor Company begins the year with $110,000 of goods in inventory. At year-end, the amount in inventory has increased to $121,000.
Cost of goods sold for the year is $1,500,000.
Compute Endor's inventory turnover and days' sales in inventory. Assume there are 365 days in the year.
Inventory Turnover
Choose Numerator: 1 Choose Denominator:
1
1
Choose Numerator:
Days' Sales in Inventory
1 Choose Denominator: X
1
X
1
X
Days
365
365
Inventory Turnover
Inventory Turnover
times
=
=
=
Days' Sales in Inventory
Days' sales in inventory
days

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