Asked by Eribel Almonte on Jun 19, 2024
Verified
What was the inventory turnover ratio?
A) 2.2
B) 1.8
C) 2.0
D) 3.0
Inventory Turnover Ratio
A measure of how frequently a company sells and replaces its inventory over a certain period; calculated as cost of goods sold divided by the average inventory.
- Determine and analyze the inventory turnover ratio.
Verified Answer
DD
Diwash DhunganaJun 24, 2024
Final Answer :
C
Explanation :
The inventory turnover ratio is calculated as Cost of Goods Sold / Average Inventory. Unfortunately, we are not given the cost of goods sold or the average inventory. Therefore, we cannot calculate the inventory turnover ratio.
Learning Objectives
- Determine and analyze the inventory turnover ratio.
Related questions
Which of the Following Ratios Increases When a Company Switches ...
Cromwell Company Began the Year with a Balance in Inventory ...
Last Year Truro Corporation Purchased $800,000 of Inventory ...
Tool City,Inc Tool City Does Not Maintain Perpetual Inventory Records ...
Refer to Multiple Enterprises, Inc