Inventory turnover is
Cost of goods sold divided by the average merchandise inventory
First we should find the average merchandise inventory
Add the inventory on hand at the start of the year to the inventory on hand at the end of the year and divide the result by 2 to find the company's average inventory
(12,000+10,400)÷2=11,200
Now find the inventory turnover
Divide the company's cost of goods sold for the year by the average inventory to figure the company's inventory turnovers per year.
18,000÷11,200=1.61.....answer
Hope it helps
Answer:
He earned $1,100 in interest. $6,600 is the new amount in his bank.
Step-by-step explanation:
1:30
hope it helps
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I believe the answer would be 9.
