Net sales Cost of goods sold $ 180,000 124,000

Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter17: Financial Statement Analysis
Section: Chapter Questions
Problem 5PEA
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180,000
Net sales
124,000
Cost of goods sold
Beginning inventory
41,000
Ending inventory
31,000
a. Calculate the inventory turnover ratio. (Round your answer to 1 decimal place.)
$
Transcribed Image Text:180,000 Net sales 124,000 Cost of goods sold Beginning inventory 41,000 Ending inventory 31,000 a. Calculate the inventory turnover ratio. (Round your answer to 1 decimal place.) $
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