Ask Question
23 September, 11:19

The King Corporation has ending inventory of $386,735, and cost of goods sold for the year just ended was $4,981,315. a. What is the inventory turnover?

+3
Answers (1)
  1. 23 September, 14:10
    0
    12.88

    Explanation:

    Given that,

    Ending inventory = $386,735

    Cost of goods sold for the year just ended = $4,981,315

    The inventory turnover ration is determined by dividing the Cost of goods sold for the year just ended by the Ending inventory.

    Inventory turnover:

    = Cost of goods sold : Ending inventory

    = $4,981,315 : $386,735

    = 12.88

    Therefore, the inventory turnover for the king corporation is 12.88
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “The King Corporation has ending inventory of $386,735, and cost of goods sold for the year just ended was $4,981,315. a. What is the ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers