Multiple Choice Question 137 Blossom Company had net credit sales of $13016000 and cost of goods...
Multiple Choice Question 137
Blossom Company had net credit sales of $13016000 and cost of goods sold of $16815000 for the year. The average inventory for the year amounted to $1770000. The inventory turnover for the year is
A_
| 0.8 times. |
B_
| 9.5 times. |
C-
| 7.4 times. |
D_
| 2.0 times. |
Homework Answers
Inventory Turnover Ratio = Cost of Goods Sold/Average Inventory
= 16,815,000/1,770,000
= 9.5 Times
Hence, the answer is B.
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Multiple Choice Question 137
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