The Cristo Candy Corporation carries an average balance of inventory equal to $400,000. The companys cost of

Question:

The Cristo Candy carries an average balance of inventory equal to $400,000. The company’s cost of goods sold averages $4.5 million. What are Cristo’s
(a) Inventory turnover
(b) Inventory conversion period?

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...