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Aliun [14]
3 years ago
11

The cost of goods sold for mcpherson fashions is $360,000. the beginning inventory for the firm was $20,000. twelve months later

the ending inventory was $40,000. what is the firm's inventory turnover?
Business
1 answer:
kiruha [24]3 years ago
3 0
Inventory turnover = Cost of goods sold / Average Inventory

Average Inventory = (Beginning Inventory + Ending Inventory) / 2
                              = ($20,000 + $40,000) / 2
                              = $30,000

Inventory turnover = $360,000 / $30,000
                              = 12 times.
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