At the beginning of 2020, Acatela Wholesale Corp. had inventory of $353000.It ended the year with inventory of $ 207,000 after purchasing $519000 worth of inventory. The cost of goods sold totalled $623000. Determine the inventory turnover ratio and the day's sales in inventory.

Answer rating: 100% (QA)

To calculate the inventory turnover ratio we need to divide the cost of goods sold by the av... View the full answer