The inventory turnover ratio for Natural Foods Stores is 14.6. The company reported the cost of goods sold in the amount of $ 1,500,000 and total sales of $ 2,500,000. The average amount of inventory for Natural Foods is c. $ 100,000
Total sales = $ 2,500,000
Cost of goods sold = $ 1,500,000
The average amount of inventory
= $ 2,500,000 - $ 1,500,000
= $ 100,000
A sale is a transaction among or more events in which the customer gets tangible or intangible goods, offerings, or assets in alternate for money.
In preferred enterprise operations, income seeks advice from any transactions wherein cash or price is exchanged for the possession of a terrific or entitlement to service. In an accounting context, sales refer to a company's sales earned from the sales of services or products (net income).
Sale is the selling of products or offerings or a reduction in the fee. An instance of a sale is the selling of a new residence. An instance of a sale is a 50% discount at the rate of all jeans at a store.
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