Suppose Maestros had cost of goods sold during the year of $230,000. Beginning merchandise inventory was $35,000,
Question:
Suppose Maestro’s had cost of goods sold during the year of $230,000. Beginning merchandise inventory was $35,000, and ending merchandise inventory was $45,000. Determine Maestro’s inventory turnover for the year. Round to the nearest hundredth.
a. 6.57 times per year
b. 5.75 times per year
c. 5.11 times per year
d. 17.39 times per year
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Horngrens Financial And Managerial Accounting The Managerial Chapters
ISBN: 9781292412337
7th Global Edition
Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura
Question Posted: