Question

The following information is available for Tye Company at December 31: Beginning inventory $80,000; Ending inventory $120,000; Cost of goods sold $1,200,000; and Sales Revenue $1,600,000. Tye's inventory turnover is(A) 16 times(B) 10 times(C) 15 times(D) 12 times

Answer 1

12 Times.

Step-by-step explanation:

By putting values in the below format:

= (1200000/((80000+120000/2))

= 12