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Artemon [7]
2 years ago
13

A manufacturing company has annual sales of $180,000 and inventory of $40,000. The inventory turnover ratio for the company is _

_________.
Business
1 answer:
NISA [10]2 years ago
6 0

Answer:

4.5

Explanation:

Inventory refers to the goods that a company has in its stock. Inventory includes raw materials and finished goods sold by the company.

Inventory turnover refers to the number of times a company sells and replaces its inventory during a given period.

Annual sales of a manufacturing company =\$180,000

Inventory =\$40,000

Inventory turnover ratio for the company = Sales/Inventory

=\frac{180,000}{40,000} =4.5

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