Homework Help is Here – Start Your Trial Now!
Business
Accounting
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

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter10: Inventory
Section: Chapter Questions
Problem 16EA: Compute Altoona Companys (a) inventory turnover ratio and (b) number of days sales in inventory...
See similar textbooks
icon
Related questions
Question
Solve this one Accounting Questions
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
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Financial Accounting
Financial Accounting
Accounting
ISBN:
9781337272124
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Financial Management: Theory & Practice
Financial Management: Theory & Practice
Finance
ISBN:
9781337909730
Author:
Brigham
Publisher:
Cengage
College Accounting, Chapters 1-27 (New in Account…
College Accounting, Chapters 1-27 (New in Account…
Accounting
ISBN:
9781305666160
Author:
James A. Heintz, Robert W. Parry
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS