What is the inventory turnover ratio for Fair Isle Inc. for 2020 if the inventory at the beginning of the year was $210,500 and at the end of the year was $195,500 and during the year the company had net sales of $1,243,750 which had a corresponding cost of sales of $995,000? a.) 2.5 b.) 4.9 c.) 5.0 d.) 6.1
What is the inventory turnover ratio for Fair Isle Inc. for 2020 if the inventory at the beginning of the year was $210,500 and at the end of the year was $195,500 and during the year the company had net sales of $1,243,750 which had a corresponding cost of sales of $995,000? a.) 2.5 b.) 4.9 c.) 5.0 d.) 6.1
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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What is the inventory turnover ratio for Fair Isle Inc. for 2020 if the inventory at the beginning of the year was $210,500 and at the end of the year was $195,500 and during the year the company had net sales of $1,243,750 which had a corresponding cost of sales of $995,000?
a.) 2.5
b.) 4.9
c.) 5.0
d.) 6.1
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