Excel Online Structured Activity: Inventory Turnover Ratio

Suppose that a firm has an ending inventory of $128,000 as of December 31, 2012. The accounting information for 2013 has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below.

Inventory Turnover Ratio
Ending Inventory (Dec. 31st)	$128,000
Month	Ending Inventory	Cost of Goods Sold	Inventory Turnover Ratio		Formulas
January	$53,000	$80,000	2.71		#N/A
February	$85,000	$1,260,000			#N/A
March	$89,000	$920,000			#N/A
April	$59,000	$710,000			#N/A
May	$79,000	$920,000			#N/A
June	$84,000	$800,000			#N/A
July	$157,000	$551,000			#N/A
August	$219,000	$1,329,000			#N/A
September	$62,000	$984,000			#N/A
October	$110,000	$860,000			#N/A
November	$160,000	$1,240,000			#N/A
December	$108,000	$1,080,000			#N/A
		Total COGS			#N/A
		Average monthly inventory			#N/A
		Annual Inventory Ratio			#N/A

Questions

1. What is the monthly inventory turnover ratio for each of the twelve months for 2013? Round your answers to two decimal places.

Month Monthly Inventory Turnover Ratio

January

February

March

April

May

June

July

August

September

October

November

December

2. What is the total cost of goods sold for the year? Round your answer to the nearest dollar. $

3. What is the average monthly inventory? Round your answer to the nearest cent. $

4. What is the annual inventory turnover ratio? Do not round intermediate calculations. Round your answer to two decimal places.