At December 31, 2010, the following information was available for Fife Company: ending inventory $22,600; beginning inventory $21,400; cost of goods sold $171,000; and sales revenue $430,000.
Calculate the inventory turnover ratio and days in inventory for Fife.

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The Answer of At December 31, 2010, the following information was available for Fife Company: ending inventory $22,600; beginning inventory $21,400; cost of goods sold $171,000; and sales revenue $430,000.
Calculate the inventory turnover ratio and days in inventory for Fife.

At December 31, 2010, the Following Information Was Available for Fife