You are provided with the following information about the bookstore at your university:
Required:
a. Calculate the inventory turnover ratio for the year ended June 30, 2014.
b. What is the average length of time that it took to sell its inventory in 2014?
c. Is the inventory turnover ratio satisfactory? What would you need to know to fully answer this question?

Question

You are provided with the following information about the bookstore at your university:
  Required:
a. Calculate the inventory turnover ratio for the year ended June 30, 2014.
b. What is the average length of time that it took to sell its inventory in 2014?
c. Is the inventory turnover ratio satisfactory? What would you need to know to fully answer this question?

Quizplus · Accepted Answer

The Answer of You are provided with the following information about the bookstore at your university:
  Required:
a. Calculate the inventory turnover ratio for the year ended June 30, 2014.
b. What is the average length of time that it took to sell its inventory in 2014?
c. Is the inventory turnover ratio satisfactory? What would you need to know to fully answer this question?

You Are Provided with the Following Information About the Bookstore