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

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.57TI: What is the total effect on the economy of a government tax rebate of $1,000 to each household in...
Question
  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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