The Global Network has sales of $418,700, cost of goods sold of $264,900, and inventory of $61,900. What is the inventory turnover rate?
A) 1.33
B) 4.28
C) 6.76
D) 7.14
E) 8.47

Name: The Global Network has sales of $418,700, cost of goods sold of $264,900, and inventory of $61,900. What is the inventory turnover rate? A) 1.33 B) 4.28 C) 6.76 D) 7.14 E) 8.47
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Question

Quizplus · Accepted Answer

The inventory turnover rate is calculated by dividing the cost of goods sold by the inventory. So, $264,900 / $61,900 = 4.28.

The Global Network Has Sales of $418,700, Cost of Goods