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If a company's cost of goods sold is $800,000 and its average inventory is $200,000, what is its inventory turnover ratio? a) 2 b) 3 c) 4 d) 5

If a company's cost of goods sold is $800,000 and its average inventory is $200,000, what is its inventory turnover ratio? a) 2 b) 3 c) 4 d) 5

College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business
Section: Chapter Questions
Problem 5MC
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If a company's cost of goods sold is $800,000 and its average inventory is $200,000, what is its inventory turnover ratio? a) 2 b) 3 c) 4 d) 5
Transcribed Image Text:If a company's cost of goods sold is $800,000 and its average inventory is $200,000, what is its inventory turnover ratio? a) 2 b) 3 c) 4 d) 5
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