Solution-Find what was the inventory turnover ratio

Find what was the inventory turnover ratio

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Reference no: EM132817581

Problem 1: Selected information for 2019 is: cost of goods sold, $4,000,000; average inventory, $2,000,000; net sales, $8,000,000; average receivables, $980,000; and net income, $700,000. Assuming a 360-day year, what was the inventory turnover ratio for 2019?

a) 5

b) 20

c) 2.0

d) 2.5

e) none of these

Reference no: EM132817581

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Find what was the inventory turnover ratio

Reference no: EM132817581

Reference no: EM132817581

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