Perfection Company had cost of goods sold of $853,000, ending inventory of $70,500, and average inventory of $71,600. Its inventory turnover equals:

Name: Perfection Company had cost of goods sold of $853,000, ending inventory of $70,500, and average inventory of $71,600. Its inventory turnover equals:
Brand: Quizplus
Rating: 4.8 (57 reviews)

Question

Quizplus · Accepted Answer

Inventory Turnover = Cost of Goods Sold / Average Inventory

Inventory Turnover = $853,000 / $71,600

Inventory Turnover = 11.9

Therefore, the correct answer is option E, 11.9.

Perfection Company Had Cost of Goods Sold of $853,000, Ending