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Summary The Top Corporation has ending inventory of $426,287, and cost of goods sold for the ye
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The Top Corporation has ending inventory ofThe Top Corporation has ending inventory of $426,287, and cost of goods sold for the year just ended was $4,738,216. What is the inventory turnover? The days' sales in inventory? Input area: Ending inventory $426,287 Cost of goods sold $4, 738,216 Da...

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The Top Corporation has ending inventory of $426,287, and cost of goods sold

for the year just ended was $4,738,216. What is the inventory turnover? The

days' sales in inventory? Input area: Ending inventory $426,287 Cost of goods

sold $4, 738,216 Days per year 365 (Use cells A6 to B8 from the given

information to complete this question.) Output area: Inventory turnover Days'

sales in inventory




Answer & Explanation


To calculate the inventory turnover and the days' sales in inventory, we can use

the following formulas:


1. Inventory Turnover: This measures how many times a company's

inventory is sold and replaced over a period. It is calculated as:


[ \text{Inventory Turnover} = \frac{\text{Cost of Goods Sold (COGS)}}{\

text{Ending Inventory}} ]

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