Exotech has an inventory turn ratio of 60 with $50 million in annual sales, and an average inventory of $250,000. what is exotech’s cost of goods sold?
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Ответ:
$15 million
Explanation:
Data provided in the question:
Inventory turn ratio = 60
Annual sales = $50 million
Average inventory = $250,000
Now,
we know,
Inventory turn ratio = ( Cost of goods sold ) ÷ ( Average inventory )
thus,
60 = ( Cost of goods sold ) ÷ $250,000
or
Cost of goods sold = 60 × $250,000
or
Cost of goods sold = $15,000,000 or $15 million
Ответ:
.
Explanation:
I don’t know either I’m also in this class.