Answered: Calculate inventory turnover at cost…

Calculate inventory turnover at cost (to nearest hundredth, format as 1.23 that's it, it's a ratio): Ending inventory $25,000 Cost of goods sold $43,000 Beginning inventory $15,000 Net sales $55,800

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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Question

Calculate inventory turnover at cost (to nearest hundredth, format as 1.23 that's it, it's a ratio):

Ending inventory $25,000

Cost of goods sold $43,000

Beginning inventory $15,000

Net sales $55,800

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