If a business's opening stock is $15,000 and closing stock is $10,000, the average stock is:
Question 2
2.
The cost of goods sold for Kushion Co. is $275,000 and their average inventory is $55,000. Which of the following is the correct result for their inventory turnover ratio (represented in number of times per year)?
Question 3
3.
Which of the following could lead to a low inventory turnover ratio?
Question 4
4.
Calculate a firm's stock turnover in days if its average stock is $13,000 and the cost of goods sold is $25,000.
Question 5
5.
Calculate a firm's stock turnover in terms of times, if it has opening stock worth $15,000, closing stock worth $5,000, and the cost of the goods sold was $12,000.