Consider a firm with an annual net income of $30 million, revenue of $70 million and cost of goods sold of $35 million. If the balance sheet amountsshow $3.5 million of inventory and $800,000 of property, plant & equipment, what is the inventory turnover?
Consider a firm with an annual net income of $30 million, revenue of $70 million and cost of goods sold of $35 million. If the balance sheet amountsshow $3.5 million of inventory and $800,000 of property, plant & equipment, what is the inventory turnover?
Chapter3: Evaluation Of Financial Performance
Section: Chapter Questions
Problem 1P
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Consider a firm with an annual net income of $30 million, revenue of $70 million and cost of goods sold of $35 million. If the balance sheet amounts
show $3.5 million of inventory and $800,000 of property, plant & equipment, what is the inventory turnover?
show $3.5 million of inventory and $800,000 of property, plant & equipment, what is the inventory turnover?
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