A company reports the following amounts for 2012:
$$\begin{array} { l r }
\text { Inventory (beginning) } & \$ 20,000 \
\text { Inventory (ending) } & 30,000 \
\text { Purchases } & 160,000 \
\text { Purchase returns } & 10,000
\end{array}$$
Calculate cost of goods sold,the inventory turnover ratio,and the average days in inventory for 2012.

Question

A company reports the following amounts for 2012:
$$\begin{array} { l r } 
\text { Inventory (beginning) } & \$ 20,000 \
\text { Inventory (ending) } & 30,000 \
\text { Purchases } & 160,000 \
\text { Purchase returns } & 10,000
\end{array}$$
Calculate cost of goods sold,the inventory turnover ratio,and the average days in inventory for 2012.

Quizplus · Accepted Answer

The Answer of A company reports the following amounts for 2012:
$$\begin{array} { l r } 
\text { Inventory (beginning) } & \$ 20,000 \
\text { Inventory (ending) } & 30,000 \
\text { Purchases } & 160,000 \
\text { Purchase returns } & 10,000
\end{array}$$
Calculate cost of goods sold,the inventory turnover ratio,and the average days in inventory for 2012.

A Company Reports the Following Amounts for 2012 Calculate Cost of Goods Sold,the Inventory Turnover Ratio,and the Average