Ask Question
BusinessBusiness
16 May, 11:54

Tinker's 2019 cost of goods sold was $750,000 and 2018 cost of goods sold was $770,000. The inventory at the end of 2019 was $188,000 and $208,000 at the end of 2018. What was Tinker's inventory turnover during 2019?

A. 3.79

B. 3.99

C. 3.84

D. 3.89

+2
Answers (1)
  1. 16 May, 12:03
    0
    A

    Explanation:

    In this question, we are asked to calculate the inventory turnover during 2019.

    Mathematically;

    Inventory turn over = Cost of goods sold/Average inventory

    From the question, we identify that the cost of goods sold = $750,000

    Average inventory = (188,000 + 208,000) / 2 = 396,000/2 = 198,000

    Inventory turn over = 750,000/198,000 = 3.79
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Tinker's 2019 cost of goods sold was $750,000 and 2018 cost of goods sold was $770,000. The inventory at the end of 2019 was $188,000 and ...” 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
You Might be Interested in
On January 1, Bixby Machine signed a $210,000, 6%, 30-year mortgage that requires semiannual payments of $7,585 on June 30 and December 31 of each year.
Answers (1)
Which of the following is correct? Question 2 options: Short run fluctuations in economic activity happen only in developing countries. During economic contractions most firms experience rising sales.
Answers (1)
LO 4.2Which document shows the cost of direct materials, direct labor, and overhead applied for each specific job? job cost sheet purchase order materials requisition form receiving document
Answers (1)
Sales revenue$ 4,000Purchases of direct materials$ 400Direct labor$ 450Manufacturing overhead$ 620Operating expenses$ 650Beginning raw materials inventory$ 200Ending raw materials inventory$ 180Beginning work in process inventory$ 320Ending work in
Answers (1)
Which of the following phrases best describes the accomplishment to be listed on a résumé? a. Top producer b. The leading producer c. Top producer of 37 employees d. Top producer by a lot
Answers (1)
New Questions in Business
Suppose that a worker in Freedonia can produce either 6 units of corn or 2 units of wheat per year, and a worker in Sylvania can produce ei ther 2 units of corn or 6 units of wheat per year. Each nation has 10 workers.
Answers (1)
How can business taxes positively affect an economy? A If taxes are low, more businesses can be created. B If taxes are low, then businesses will give more of their earnings away.
Answers (1)
Assume Joe Harry sells his 25% interest in Joe's S Corp., Inc. to Tyrone on January 29. Using the daily allocation method, how much income does Joe Harry report if Joe's S Corp., Inc.
Answers (1)
Whirlwind Financial Corporation sends its executives to a resort in Mexico-at taxpayer's expense-to consider using the firm's cash to buy back its stock and thereby prop up the value. Many of its competitors are doing the same thing.
Answers (1)
LO 7.2Rehydrator makes a nutrition additive and expects to sell 3,000 units in January, 2,000 in February, 2,500 in March, 2,700 in April, and 2,900 in May.
Answers (1)
Home » Business » Tinker's 2019 cost of goods sold was $750,000 and 2018 cost of goods sold was $770,000. The inventory at the end of 2019 was $188,000 and $208,000 at the end of 2018. What was Tinker's inventory turnover during 2019? A. 3.79 B. 3.99 C. 3.84 D. 3.89
Sign Up Forgot Password?