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Beginning inventory at cost $9,000, ending inventory at cost $7,000, net sales $50,000, cost of goods sold $46,000. The inventory turnover at cost is

Accounting  questions that I need answered to , can you help me.
Beginning inventory at cost $9,000, ending inventory at cost $7,000, net sales $50,000, cost of goods sold $46,000. The inventory turnover at cost is.

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Mike S. | Experienced Educator/Tutor - Math Specialist & Other SubjectsExperienced Educator/Tutor - Math Specia...
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Answer: Inventory turnover ration is 5.75
 
Initial inventory is 9,000 and ending inventory is 7,000 so the average inventory is 8,000.  You then divide this into your cost of goods sold (COGS) and get 5.75 as your answer.