3. If average inventory is $12,000, food sales are $90,000, and cost of food sold is...

Question

Question

3. If average inventory is $12,000, food sales are $90,000, and cost of food sold is $36,000, then inventory turnover rate is

business accounting

Answer 1

Answer #1

Inventory turnover rate = Cost of Goods (food) sold / Inventory = 36000/12000 Inventory turnover rate 3 Therefore answer is o

Answer 2

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