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Vikki [24]
2 years ago
6

Suppose Kendall's had cost of goods sold during the year of $ 260 comma 000. Beginning merchandise inventory was $ 20 comma 000​

, and ending merchandise inventory was $ 35 comma 000. Determine Kendall's inventory turnover for the year. Round to the nearest hundredth.
Business
1 answer:
kiruha [24]2 years ago
6 0

Answer:

Inventory turnover = 9.45

Explanation:

Inventory turnover is defined as the ratio between Cost of good sold and average inventory.

Average inventory is defined as follows, where BI = Beginning merchandise inventory and EI = Ending merchandise inventory:

Average Inventory = \frac{BI + EI}{2}

Average Inventory=\frac{20000+35000}{2}=27500

then:

Turnover = \frac{260000}{27500} \\Turnover = 9.45

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2 years ago
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Answer:

All the statements are false

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<u>Explanation:</u>

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6 0
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Darya [45]

Answer:

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