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What was bonita inventory turnover for the year

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Reference no: EM133016918

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Q1. Bonita, Inc. had a beginning inventory of $55,000 and an ending inventory of $25,000. Their cost of goods sold for the year was $170,000. What was Bonita's average inventory for the year?

-$25,000

-$85,000

-$40,000

-$55,000

Q2. Bonita, Inc. had a beginning inventory of $55,000 and an ending inventory of $25,000. Their cost of goods sold for the year was $170,000. What was Bonita's inventory turnover for the year?

-30.90x

-6.8x

-23.5x

-4.25x

Q3. Bonita, Inc. had a beginning inventory of $55,000 and an ending inventory of $25,000. Their cost of goods sold for the year was $170,000. Approximately how often did Bonita sell its entire inventory?

-every 47.10 days

-every 85.88 days

-every 53.68 days

-every 118.09 days

Q4. The average number of times a company's inventory is sold during an accounting period is the:

-Inventory turnover

-Collection Period

-Accounts receivable turnover

-Days' sales uncollected

-Current ratio

Reference no: EM133016918

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