Question: Problem 3 - 4 Calculating Inventory Turnover [ LO 2 ] The Top Corporation has ending inventory of $ 6 9 6 , 8 7
Problem Calculating Inventory Turnover LO
The Top Corporation has ending inventory of $ and cost of goods sold for the year just ended was $
a What is the inventory turnover?
Note: Do not round intermediate calculations and round your answer to decimal places, eg
b What is the days' sales in inventory?
Note: Do not round intermediate calculations and round your answer to decimal places, eg
c How long, on average, did a unit of inventory sit on the shelf before it was sold?
Note: Do not round intermediate calculations and round your answer to decimal places, eg
tablea Inventory turnover,,timesb Days' sales in inventory,,daysc Days on the shelf,,days
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