Kent Company has an inventory turnover of 12.75, and its inventory amounts to $3,400,000. What is the amount of cost of goods sold?
A)$266,667
B)$43,350,000
C)$26,666,667
D)$51,000

Name: Kent Company has an inventory turnover of 12.75, and its inventory amounts to $3,400,000. What is the amount of cost of goods sold? A)$266,667 B)$43,350,000 C)$26,666,667 D)$51,000
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Question

Quizplus · Accepted Answer

Cost of goods sold/$3,400,000 = 12.75; Cost of goods sold = 12.75 x $3,400,000 = $43,350,000

Kent Company Has an Inventory Turnover of 12