Big Sale Stores is assessing its levels of inventory for 2013 and 2014 and has gathered the
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Question:
Big Sale Stores is assessing its levels of inventory for 2013 and 2014 and has gathered the following data:
2014 | 2013 | 2012 | |
Ending inventory | $192,000 | $162,000 | $138,000 |
Cost of goods sold | 960,000 | 900,000 |
Compute the inventory turnover and days' inventory on hand for 2013 and 2014. Use 365 days in a year when making your computations. Round your answers to one decimal place.
2013 | 2014 | |
Inventory Turnover: | _____ times | ______ times |
Days' Inventory on Hand: | ______ days | ________ days |
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