Inventory turnover for the year, Accounting Basics

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Inventory turnover for the year

Waters Department Store had net credit sales of $16,000,000 and cost of goods sold of $12,000,000 for the year. The average inventory for the year amounted to $2,000,000. Inventory turnover for the year is:

a. 8 times.

b. 14 times.

c. 6 times.

d. 4 times.

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Accounting Basics: Inventory turnover for the year

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Accounting Basics: Inventory turnover for the year

Reference No:- TGS047955

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Recent Questions Asked Accounting Basics

Q : Calculate average fixed cost and average variable cost

Q : Explain marginal-cost curve and average total cost curve

Q : Accounts receivable balances at the beginning

Q : How activities affects government-households and businesses

Q : Inventory turnover for the year

Q : Average number of days in inventory

Q : What was her net pay

Q : Which product have higher index of intra-industry trade

Q : Problem regarding receivables turnover ratio

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Ask an Expert for Answer!!

Accounting Basics: Inventory turnover for the year

Reference No:- TGS047955

Recent Questions Asked Accounting Basics

Q : Calculate average fixed cost and average variable cost

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Q : Accounts receivable balances at the beginning

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Q : Average number of days in inventory

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