Solution-Calculate inventory turnover and days in inventory

Calculate inventory turnover and days in inventory

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Reference no: EM133137850

Question - This information is available for Sandhill's Photo Corporation for 2020 and 2021.

	2020	2021
Beginning inventory	$240,000	$360,000
Ending inventory	360,000	438,000
Cost of goods sold	1,470,000	1,635,900
Sales revenue	1,920,000	2,280,000

Required - Calculate inventory turnover, days in inventory, and gross profit rate for Sandhill's Photo Corporation for 2020 and 2021.

Reference no: EM133137850

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Calculate inventory turnover and days in inventory

Reference no: EM133137850

Reference no: EM133137850

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