Solution-Calculate the inventory turnover ratio

Calculate the inventory turnover ratio

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Reference no: EM132874691

Problem - Delater Company had sales of $3,948,340 and a gross margin of $1,859,260. Delater had beginning inventory of $53,420 and ending inventory of $62,640. Required: Note: Round answers to one decimal place.

Required -

1. Calculate the average inventory.

2. Calculate the inventory turnover ratio.

3. Calculate the inventory turnover in days.

Reference no: EM132874691

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Calculate the inventory turnover ratio

Reference no: EM132874691

Reference no: EM132874691

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