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Compute inventory turnover for each company

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The cost of goods sold computations for Ivanhoe Company and Concord Company are shown below.

                                                   Ivanhoe.               Concord

                                                     Company.            Company

Beginning Inventory              $41,000.                   $72,000

Cost of goods purchased.           438,800.              175,500

Cost of goods avail for sale          479,800.           247,500

Ending inventory.                        71,000.            70,000

Cost of goods sold.                   $408,800.           $177,500

Problem 1: Compute inventory turnover for each company.

Reference no: EM132689420

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