Problem $4-15$ Inventory

Turnover $($LO$3)$

Assume a firm's inventory level of

$$12,000$ represents $34$ days' sales.

Required:

a$.$ What is the annual cost of goods

sold?

Note: Use $365$ days in a year. Do

not round intermediate

calculations. Round your answer to

whole number.

b$.$ What is the inventory turnover ratio?

Note: Round your answer to $2$

decimal places.

a$.$ Annual cost of goods sold

b$.$ Inventory turnover ratio