A company reports the following: $\begin{array}{lr}
\text { Cost of goods sold } & \$ 610,000 \
\text { Average inventory } & 80,000
\end{array}$
Determine the (a) inventory turnover, and (b) number of days' sales in inventory. Round your answer to one decimal place.

Question

A company reports the following: $\begin{array}{lr}
\text { Cost of goods sold } & \$ 610,000 \
\text { Average inventory } & 80,000
\end{array}$ ​
Determine the (a) inventory turnover, and (b) number of days' sales in inventory. Round your answer to one decimal place.

Quizplus · Accepted Answer

The Answer of A company reports the following: $\begin{array}{lr}
\text { Cost of goods sold } & \$ 610,000 \
\text { Average inventory } & 80,000
\end{array}$ ​
Determine the (a) inventory turnover, and (b) number of days' sales in inventory. Round your answer to one decimal place.

A Company Reports the Following Cost of goods sold $610,000 Average inventory 80,000\begin{array}{lr}\text { Cost of goods sold } & \$ 610,000 \\\text { Average inventory } & 80,000\end{array} Cost of goods sold Average inventory ​$610,00080,000​

A Company Reports the Following $\begin{array}{lr}\text { Cost of goods sold } & \$ 610,000 \\\text { Average inventory } & 80,000\end{array}$