Question

A company's cost of goods sold for the year was $97,500. Ending inventory was $12,000 and $13,500 in the current and prior years, respectively.
Required
Calculate the company's inventory turnover ratio. If the company's ratio was 6.2 in the prior year, has the company become more or less efficient in selling its inventory?


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  • CreatedJuly 16, 2015
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