Sugar, Inc. sells $749,300 of goods during the year that have a cost of $538,600. Inventory was $31,183 at the beginning of the year and $35,438 at the end of the year.What is the inventory turnover ratio? (Round your final answer to 1 decimal place.)
A. 6.3 times
B. 22.5 times
C. 16.2 times
D. 17.3 times
Answer: C
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Which assertions may be tested for the "account balances" category of management assertions?
A. Occurrence, accuracy, rights and obligations, completeness. B. Existence, cutoff, rights and obligations, completeness. C. Existence, rights and obligations, completeness, accuracy, valuation, allocation, and classification. D. Occurrence, rights and obligations, completeness, valuation and allocation.
The major advantages in the use of company department managers as auditors are objectivity and lack of time pressure
Indicate whether the statement is true or false
A person forming a contract never has to disclose information that is harmful to their interests
Indicate whether the statement is true or false
When returning after expatriation, what can the U-Curve be extended to?
a) O-Curve b) UR-Curve c) W-Curve d) G-Curve.