Answered: Compute the inventory turnover ratio…

Compute the inventory turnover ratio based on the following data: Sales revenue $275,000 Cost of goods sold 168,000 Beginning inventory 35,000 Ending inventory 45,000

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 16EA: Compute Altoona Companys (a) inventory turnover ratio and (b) number of days sales in inventory...

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Compute the inventory turnover ratio based on the following data:

Sales revenue $275,000

Cost of goods sold 168,000

Beginning inventory 35,000

Ending inventory 45,000

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