Question: The following data below gives information for Cardinal Custom Trailers. Cost of goods sold last year was $930,000 and the average aggregate inventory of raw

The following data below gives information for Cardinal Custom Trailers. Cost of goods sold last year was $930,000 and the average aggregate inventory of raw materials is $22,500, work in process (WIP) is $11,225 and the finished goods is $89,670. 


Calculate the number of inventory turns, rounded to one decimal place.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

The total average aggre... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!