Calculate the Inventory Turnover (COGS)using the following data:
A)6.23X
B).43X
C)2.49X
D)2.31X

Name: Calculate the Inventory Turnover (COGS)using the following data: A)6.23X B).43X C)2.49X D)2.31X
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Question

Calculate the Inventory Turnover (COGS)using the following data: ​ ​ ​ 
A)​6.23X 
B)​.43X 
C)​2.49X 
D)​2.31X

Quizplus · Accepted Answer

Inventory Turnover (COGS) = Cost of Goods Sold / Average Inventory
We are given the Cost of Goods Sold as $2,731,000 and the Inventory as $1,095,000.
Therefore Inventory Turnover (COGS) = $2,731,000 / $1,095,000 = 2.49X. Option C is the correct answer.

Calculate the Inventory Turnover (COGS)using the Following Data: ​ ​

Calculate the Inventory Turnover (COGS)using the Following Data: