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Question Content Area The following data were taken from Castle, Inc. Cost of goods sold $894,000 Inventory, end of year 78,000 Inventory, beginning of the year 92,000 What is (1) the inventory turnover ratio and (2) the number of days' sales in inventory for Castle Inc.? a. (1) 10.52 times(2) 34.70 days b. (1) 11.46 times(2) 31.85 days c. (1) 9.72 times(2) 37.56 days d. (1) 10.53 times(2) 34.56 days

Question Content Area The following data were taken from Castle, Inc. Cost of goods sold $894,000 Inventory, end of year 78,000 Inventory, beginning of the year 92,000 What is (1) the inventory turnover ratio and (2) the number of days' sales in inventory for Castle Inc.? a. (1) 10.52 times(2) 34.70 days b. (1) 11.46 times(2) 31.85 days c. (1) 9.72 times(2) 37.56 days d. (1) 10.53 times(2) 34.56 days

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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  1. Question Content Area

    The following data were taken from Castle, Inc.

    Cost of goods sold $894,000
    Inventory, end of year 78,000
    Inventory, beginning of the year 92,000

    What is (1) the inventory turnover ratio and (2) the number of days' sales in inventory for Castle Inc.?

    a. (1) 10.52 times
    (2) 34.70 days
    b. (1) 11.46 times
    (2) 31.85 days
    c. (1) 9.72 times
    (2) 37.56 days
    d. (1) 10.53 times
    (2) 34.56 days
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