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Lina20 [59]
3 years ago
10

If a firm’s inventories on hand are $200,000, its cost of goods sold is $600,000, and its sales are $800,000, what is the invent

ory turnover?
Business
1 answer:
Vadim26 [7]3 years ago
3 0

Answer:

inventory turnover= 3

Explanation:

Giving the following information:

A firm’s inventories on hand are $200,000

The cost of goods sold is $600,000.

To calculate the inventory turnover, we need to use the following formula:

inventory turnover= cost of goods sold/ average inventory

inventory turnover= 600,000/200,000= 3

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hope this helps
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