At the beginning of 2019, Percolate Corp. had inventory of $354,000. During the year, it purchased...

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At the beginning of 2019, Percolate Corp. had inventory of $354,000. During the year, it purchased $298,000 worth of raw materials and sold $593,000 worth of inventory. Determine the inventory turnover ratio and the days' sales in inventory. Do not enter dollar signs or commas in the input boxes. For the days' sales in inventory, round your answer to the nearest whole number. Days' Sales in Inventory = days For the inventory turnover ratio, round your answer to 2 decimal places. Inventory Turnover = X At the beginning of 2019, Percolate Corp. had inventory of $354,000. During the year, it purchased $298,000 worth of raw materials and sold $593,000 worth of inventory. Determine the inventory turnover ratio and the days' sales in inventory. Do not enter dollar signs or commas in the input boxes. For the days' sales in inventory, round your answer to the nearest whole number. Days' Sales in Inventory = days For the inventory turnover ratio, round your answer to 2 decimal places. Inventory Turnover = X

Answer rating: 100% (QA)

The formula for inventory turnover ratio is Inventory Turnover Ratio Cost of Goods Sold Average Inve... View the full answer