Assuming that all net sales figures are at retail and all cost of goods sold figures are at cost, calculate the average inventory (in $) and inventory turnover for the following. If the actual turnover is less than the published rate, calculate the target average inventory necessary to come up to industry standards. If the actual turnover is greater than the published rate, enter "above" for target average inventory. Round inventories to the nearest dollar and inventory turnovers to the nearest tenth Net Sales = 580,000 Beginning Inventory = 137,250 Ending Inventory = 79,200 Published Rate = 4.8 Solve for the following: Average Inventory = $ Inventory Turnover = Target Average Inventory = $
Assuming that all net sales figures are at retail and all cost of goods sold figures are at cost, calculate the average inventory (in $) and inventory turnover for the following. If the actual turnover is less than the published rate, calculate the target average inventory necessary to come up to industry standards. If the actual turnover is greater than the published rate, enter "above" for target average inventory. Round inventories to the nearest dollar and inventory turnovers to the nearest tenth
Net Sales = 580,000
Beginning Inventory = 137,250
Ending Inventory = 79,200
Published Rate = 4.8
Solve for the following:
Average Inventory = $
Inventory Turnover =
Target Average Inventory = $
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