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rosijanka [135]
2 years ago
12

For the year ended December 31, Depot Max's cost of goods sold was $56,900. Inventory at the beginning of the year was $6,540. E

nding inventory was $7,250. Compute Depot Max's inventory turnover for the year.
Business
1 answer:
il63 [147K]2 years ago
3 0

Depot Max's inventory turnover for the year is 8.3

Given

Cost of goods sold = $56900

Begining Jovenstory = $6540

Ending Inventory = $7250 .

Average inventory = opening inventory + closing inventory  / 2

= $6 540 + $-7250 / 2

Average inventory = $6895

cost of goods old

.: Inventory turnover = cost of goods sold / Average inventory

56900 / 6895

= 8. 252 times

He Depot Max's Inventory 8.3 times (approx ).

Learn more about turnover here: brainly.com/question/25623677

#SPJ4

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