Using Sparky's financial information what is the company's inventory turnover ratio for 2012?
a. 0.69
b. 1.00
c. 3.35
d. 4.03
C
Sparky's Selected Financial Statement data
For Fiscal year end 2012 2011
(amounts in thousands of dollars)
Net sales $125,410 $106,380
Cost of Goods Sold -104,090 -89,359
Gross profit $21,320 $17,021
Inventory $31,353 $30,850
Inventory Turnover 3.35
$104,090/.5($31,353+$30,850)
You might also like to view...
Which one of the following is true of the bank reconciliation?
A) It should not be prepared by an employee who handles cash transactions. B) It is prepared in place of the cash ledger. C) It is a financial statement. D) It guarantees that no errors have been made.
With referral programs, firms estimate word-of-mouth by monitoring ________
A) search engine hits B) blogger comments C) podcast usage D) customer inquiries E) coupon redemptions