For its most recent year, a company had Sales (all on credit) of $830,000 and a Cost of Goods Sold of $525,000. At the beginning of the year, its Accounts Receivable were $80,000 and its Inventory was $100,000. At the end of the year, its Accounts Receivable were $86,000 and its Inventory was $110,000. The inventory turnover ratio for the year was: a. 4.8 b. 5.0 c. 7.9
For its most recent year, a company had Sales (all on credit) of $830,000 and a Cost of Goods Sold of $525,000. At the beginning of the year, its Accounts Receivable were $80,000 and its Inventory was $100,000. At the end of the year, its Accounts Receivable were $86,000 and its Inventory was $110,000. The inventory turnover ratio for the year was: a. 4.8 b. 5.0 c. 7.9
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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For its most recent year, a company had Sales (all on credit) of $830,000 and a Cost of Goods Sold of $525,000. At the beginning of the year, its
The inventory turnover ratio for the year was:
a. 4.8
b. 5.0
c. 7.9
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