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A7X Corporation has ending inventory of $625,817, and cost of goods sold for the year just...

A7X Corporation has ending inventory of $625,817, and cost of goods sold for the year just ended was $9,758,345. What is the inventory turnover? The days’ sales in inventory? How long, on average, did a unit of inventory sit on the shelf before it was sold?

Solutions

Expert Solution

Inventory turnover=Cost of goods sold/Ending inventory

=(9,758,345/625,817)=15.59 times(Approx)

Days sales in inventory=365/Inventory turnover

=(365/15.59)=23.41 days(Approx).

Days on shelf=23.41 days(Approx).

jeff jeffy answered 2 years ago
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