Zebra,Inc.cost of goods sold for the year is $2,300,000,and the average merchandise inventory for the year is $130,000.Calculate the inventory turnover ratio of the company.(Round your answer to two decimal places. )
A)5.65 times
B)17.69 times
C)8.85 times
D)9.43 times

Question

Quizplus · Accepted Answer

B)Inventory turnover ratio = Cost of Goods Sold / Average Merchandise Inventory =
$2,300,000 / 130,000 = 17.69 times

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