Using the information below find the average inventory turnover for Vox Ltd in days. $\begin{array}{ll}
\text { Sales } & \$ 1,800,000 \
\text { Cost of sales } & 1,200,000 \
\text { Stock on hand start } & 360,000 \
\text { Stock on hand end } & 312,000
\end{array}$
A)102.2 days
B)63.26 days
C)94.8 days
D)68 days

Question

Quizplus · Accepted Answer

The average inventory is $(360,000 + 312,000) / 2 = 336,000$. The inventory turnover ratio is $1,200,000 / 336,000 = 3.57$. The average inventory turnover in days is $365 / 3.57 = 102.2$ days.

Using the Information Below Find the Average Inventory Turnover for Vox