Waters Department Store had net credit sales of $8,000,000 and cost of goods sold of $6,000,000 for the year. The average inventory for the year amounted to $2,000,000. Inventory turnover for the year is a. 4 times. b. 7 times. c. 3 times. d. 2 times. The average number of days to sell the inventory during the year was a. 183 days. b. 122 days. c. 91 days. d. 52 days.

Waters Department Store had net credit sales of $8,000,000 and cost of goods sold of $6,000,000 for the year. The average inventory for the year amounted to $2,000,000. Inventory turnover for the year is a. 4 times. b. 7 times. c. 3 times. d. 2 times. The average number of days to sell the inventory during the year was a. 183 days. b. 122 days. c. 91 days. d. 52 days.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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