Using the amounts below, calculate the inventory turnover ratio , average days in inventory, and gross profit ratio Net sales Cost of goods sold Beginning inventory Ending inventory $250,000 180,000 55,000 45,000...

Inventory turnover ratio Cost of goods sold 1800 ...

Using the amounts below, calculate the inventory turnover ratio , average days in inventory, and gross profit

Question:

Using the amounts below, calculate the inventory turnover ratio, average days in inventory, and gross profit ratio.

Inventory Turnover Ratio
Inventory Turnover RatioThe inventory turnover ratio is a ratio of cost of goods sold to its average inventory. It is measured in times with respect to the cost of goods sold in a year normally. Inventory Turnover Ratio FormulaWhere,...

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