A companys sales are $550,000 and cost of goods sold is $350,000. Beginning and ending inventories are

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A company’s sales are $550,000 and cost of goods sold is $350,000. Beginning and ending inventories are $27,000 and $38,000, respectively. How many times did the company turn its inventory over during this period?

a. 10.8 times

b. 6.2 times

c. 7.4 times

d. 16.9 times

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Financial Accounting

ISBN: 978-0134725987

12th edition

Authors: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.

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Question Posted: Jun 15, 2019 07:58 AM

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A companys sales are $550,000 and cost of goods sold is $350,000. Beginning and ending inventories are

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Financial Accounting

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