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igomit [66]
3 years ago
9

The following information was available for the year ended December 31, 2013: Net sales $ 803,000 Average accounts receivable fo

r the year $ 38,700 Cost of goods sold 598,600 Accounts receivable at year-end 30,800 Average inventories for the year 162,000 Inventories at year-end 157,450 Required: a. Calculate the inventory turnover for 2013. (Round your answer to 2 decimal places.)
Business
1 answer:
WARRIOR [948]3 years ago
8 0

Answer: 3.70  

Explanation: Stock turnover can be calculated using following formula :-

stock\:turnover\:ratio=\frac{cost\:of\:goods\:sold}{average\:stock}

where,

cost of goods sold =598,600

average stock = 162,000

now, putting the values into equation above, we get :-

stock\:turnover\:ratio=\frac{598,600}{162,000}

                                           = 3.70

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An example email to the company:

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Suppose you invest​ $1,000 today, compounded​ quarterly, with the annual interest rate of​ 5.00%. what is your investment worth
natulia [17]
Amount invested today=P =$1,000
Annual interest rate=r =5%

Concept:
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