Thompson's 2009 inventory turnover ratio is:

Name: Thompson's 2009 inventory turnover ratio is:
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Question

Quizplus · Accepted Answer

The inventory turnover ratio is calculated by dividing cost of goods sold by average inventory. Using the formula, we get:
Inventory turnover ratio = cost of goods sold / [(beginning inventory + ending inventory) / 2]
= $336,000 / [($82,000 + $86,000) / 2]
= $336,000 / $84,000
= 4
Therefore, Thompson's 2009 inventory turnover ratio is 4, which corresponds to option B.

Thompson's 2009 Inventory Turnover Ratio Is