Cutting Edge Technologies reported the following information in its 2016 annual report: Required:
1. Determine the inventory turnover ratio. (Round your answer to two decimal places.)
2. Determine the average days to sell inventory. (Round your answer to a whole number.)
3. Explain the meaning of each ratio.

Question

Cutting Edge Technologies reported the following information in its 2016 annual report:  Required:
1. Determine the inventory turnover ratio. (Round your answer to two decimal places.)
2. Determine the average days to sell inventory. (Round your answer to a whole number.)
3. Explain the meaning of each ratio.

Quizplus · Accepted Answer

The Answer of Cutting Edge Technologies reported the following information in its 2016 annual report:  Required:
1. Determine the inventory turnover ratio. (Round your answer to two decimal places.)
2. Determine the average days to sell inventory. (Round your answer to a whole number.)
3. Explain the meaning of each ratio.

Cutting Edge Technologies Reported the Following Information in Its 2016