Libscomb Technologies' annual sales are $6,700,291 and all sales are made on credit, it purchases $3,059,202...

 

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Libscomb Technologies' annual sales are $6,700,291 and all sales are made on credit, it purchases $3,059,202 of materials each year (and this is its cost of goods sold). Libscomb also has $505,320 of inventory, $538,622 of accounts receivable, and $455,811 of accounts payable. Assume a 365 day year. What is Libscomb's Inventory Turnover? Libscomb Technologies' annual sales are $6,700,291 and all sales are made on credit, it purchases $3,059,202 of materials each year (and this is its cost of goods sold). Libscomb also has $505,320 of inventory, $538,622 of accounts receivable, and $455,811 of accounts payable. Assume a 365 day year. What is Libscomb's Inventory Turnover?

Answer rating: 100% (QA)

To calculate Libscomb Technologies Inventory Turnover we need to use the following formula Inv... View the full answer