Use the following information to answer Questions 12 - 15. Below is selected data for Gertup Corporation as of 12/31/05: Gertup
1 answer:
Answer:
the cash that should be freed up is $267
Explanation:
The computation of the cash that would be freed up is shown below:
As we know that
The inventory turnover is
= Cost of goods sold ÷ average inventory
12 = $14,800 ÷ average inventory
So, the average inventory is 1,233
Now the cash that should be freed up is
= 1,500 - 1,233
= $267
hence, the cash that should be freed up is $267
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