Classic Vehicles had a beginning inventory of $156,700 and an ending inventory of $98,500. If the cost of goods sold was $152,100, calculate the inventory turnover. (Round to the nearest tenth) 1.3 times 1.1 times 1.2 times 1.7 times

Classic Vehicles had a beginning inventory of $156,700 and an ending inventory of $98,500. If the cost of goods sold was $152,100, calculate the inventory turnover. (Round to the nearest tenth) 1.3 times 1.1 times 1.2 times 1.7 times

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 46E

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Question

Classic Vehicles had a beginning inventory of $156,700 and an ending inventory of $98,500. If the cost of goods
sold was $152,100, calculate the inventory turnover. (Round to the nearest tenth)

1.3 times

1.1 times

1.2 times

1.7 times

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