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igor_vitrenko [27]
3 years ago
9

WaterwayCorporation had net credit sales of $13100000 and cost of goods sold of $9070000 for the year. The average inventory for

the year amounted to $1814000. The inventory turnover for the year is _________.
Business
1 answer:
Kaylis [27]3 years ago
4 0

Answer:

The inventory turnover for the period is 5

Explanation:

Inventory turnover is the ratio which stated that how many times the company replaces as well as sells the stock of goods during a specific year or period.

The formula for computing the inventory turnover is as:

Inventory turnover = Cost of goods sold / Average inventory

where

Cost of goods sold (COGS) = $9,070,000

Average inventory = $1,814,000

Putting the values above:

Inventory turnover = $9,070,000 / $1,814,000

Inventory turnover = 5

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Explain the nature of promotional plan
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