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Which is rate of inventory turnover

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Reference no: EM132792969

Problem 1: A company's net sales revenues are $540,000. Its cost of goods sold is $360,000. Which of the following is its gross profit percentage?

A) 300%

B) 33.33%

C) 100%

D) 66.67%

Problem 2: A company's cost of goods sold is $1,000,000. Its average inventory is $100,000. Which of the following is its rate of inventory turnover?

A) 10

B) .01

C) 100

D) .1

Reference no: EM132792969

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