Zebra,Inc.cost of goods sold for the year is $2,300,000,and the average merchandise inventory for the year is $139,000.Calculate the inventory turnover ratio of the company.(Round your answer to two decimal places. )

Question

Quizplus · Accepted Answer

B)
Inventory turnover ratio = Cost of Goods Sold / Average Merchandise Inventory =
$2,300,000 / 139,000 = 16.55 times

Zebra,Inccost of Goods Sold for the Year Is $2,300,000,and the Average