Function: AVERAGE; Formula: Divide; Cell Referencing

Using Excel to Evaluate Inventory Turnover

PROBLEM

Fashion Company reported the following amounts for its year ending December $31,2024.$

Net sales

Cost of goods sold

Profit for $2024$

$$27,50,000$

$10,80,000$

$4,80,000$

$1,35,000$

$1,44,000$

January $1,2024$ inventory balance

December $31,2024$ inventory balance

Student Work Area

into cells shaded in yellow in this

Required: Provide input into cells shaded in yellowions or functions

template. Input the required mathematical formulas or with cell references to the Problem area or work area as

Calculate the inventory turnover and days sales in inventory

ratios for $2024.$

Inventory turnover times