Wycombe Hobby Shop had a cost of goods sold for the year of $160,240. The targeted average inventory needed to match the industry standard is $48,200. What is the published industry standard for inventory turnover? (Round to nearest tenth)

Question

Quizplus · Accepted Answer

The Answer of Wycombe Hobby Shop had a cost of goods sold for the year of $160,240. The targeted average inventory needed to match the industry standard is $48,200. What is the published industry standard for inventory turnover? (Round to nearest tenth)

Wycombe Hobby Shop Had a Cost of Goods Sold for the Year