The following selected information is from Acme's annual report for the years ended December 31:

-Refer to the Acme annual report above.Calculate the inventory turnover ratio for 2010.
A)4.0 times
B)0.25 times
C)7.7 times
D)The answer cannot be determined from the information given.

Question

The following selected information is from Acme's annual report for the years ended December 31:

-Refer to the Acme annual report above.Calculate the inventory turnover ratio for 2010.
A)4.0 times 
B)0.25 times 
C)7.7 times 
D)The answer cannot be determined from the information given.

Quizplus · Accepted Answer

The inventory turnover ratio requires information about cost of goods sold and average inventory, which is not provided in the question.

The Following Selected Information Is from Acme's Annual Report for the Years