Use the following to calculate the inventory turnover ratio for the year 2019.
$$\begin{array} { l l l }
& \underline { 2019 } & \underline { 2018 } \
\text { Cost of Goods Sold } & 585,000 & 475,000 \
\text { Merchandise Inventory } & 320,000 & 295,000
\end{array}$$

Question

Use the following to calculate the inventory turnover ratio for the year 2019.
 $$\begin{array} { l l l } 
& \underline { 2019 } & \underline { 2018 } \
\text { Cost of Goods Sold } & 585,000 & 475,000 \
\text { Merchandise Inventory } & 320,000 & 295,000
\end{array}$$

Quizplus · Accepted Answer

The Answer of Use the following to calculate the inventory turnover ratio for the year 2019.
 $$\begin{array} { l l l } 
& \underline { 2019 } & \underline { 2018 } \
\text { Cost of Goods Sold } & 585,000 & 475,000 \
\text { Merchandise Inventory } & 320,000 & 295,000
\end{array}$$

Use the Following to Calculate the Inventory Turnover Ratio for the Year