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stellarik [79]
2 years ago
14

Net sales $410,660 Cost of goods sold (purchased items) $102,500 Net income after taxes $ 45,415 Current assets $299,665 Current

liabilities $276,230 Avg. inventory value $ 91,620 Find out the inventory turnover from the information provided above. Group of answer choices 1.1 0.3 1.6 0.9 Do not have enough information to compute
Business
1 answer:
I am Lyosha [343]2 years ago
4 0

Answer:

1.1 times

Explanation:

The formula to compute the inventory turnover ratio is shown below:

Inventory turnover ratio =  Cost of goods sold ÷ average inventory

                                        = $102,500 ÷  $91,620

                                        = 1.12 times

Since the average inventory is given so there is no need to find out. We simply apply the formula which is presented above.

Moreover, it shows a relationship between the cost of goods sold and the average inventory

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8 0
1 year ago
PB9.
Drupady [299]

Answer:

transferred out  = 1550 units

Explanation:

given data

beginning WIP inventory = 600 units

received = 1,500 units

end of month with process =  550 units

to find out

transferred out

solution

we get here transferred out by the given equation that is

Units in Work in process at the end of the month = Beginning WIP inventory + Units receive or started - transferred out   ..................1

put here value we will get

550 = 600 + 1500 - transferred out  

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5 0
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