Question Details

 The company's inventory turnover ratio was closest to 



1.	Kringle Company, a retailer, had cost of goods sold of $1,400,000 last year. The beginning inventory balance was $125,000 and the ending inventory balance was $142,000. The company's inventory turnover ratio was closest to
a.	10.49.
b.	5.24.
c.	11.20.
d.	9.86.


	

	2.	Lost Shoe Company, a retailer, had cost of goods sold of $220,000 last year. The beginning inventory balance was $30,000 and the ending inventory balance was $21,000. The company's inventory turnover ratio was closest to
a.	10.48.
b.	7.33.
c.	4.31.
d.	8.63.


	

	3.	Jackson Company, a retailer, had cost of goods sold of $140,000 last year. The beginning inventory balance was $8,000 and the ending inventory balance was $11,000. The company's inventory turnover ratio was closest to 
a.	12.73.
b.	14.73.
c.	7.37.
d.	17.50.


	

	4.	Lisa's Dress Company, a retailer, had cost of goods sold of $180,000 last year. The beginning inventory balance was $13,000 and the ending inventory balance was $18,000. The company's average inventory turnover in days was closest to
a.	36.50 days.
b.	26.36 days.
c.	31.43 days.
d.	62.86 days.


	

	5.	Mike- Sportswear Company, a retailer, had cost of goods sold of $420,000 last year. The beginning inventory balance was $31,000 and the ending inventory balance was $28,000. The company's average inventory turnover in days was closest to
a.	25.64 days.
b.	51.27 days.
c.	26.94 days.
d.	24.33 days.





Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help