Based on the Following Information, Compute

question 71

Essay

Based on the following information, compute
(a) inventory turnover
(b) average daily cost of merchandise sold using a 365-day year and
(c) days' sales in inventory.?Cost of merchandise sold $195,640Inventory:Beginning 20,500Ending 18,628

---

Definitions:

Initial Capital

The amount of money used to start a business or investment.

Owners' Equity

The residual interest in the assets of an entity after deducting liabilities, representing the ownership interest of shareholders or owners.

Corporate Capital

Funds and resources that a corporation utilizes for operations, growth, and to undertake new projects, including both equity and debt capital.

Partners' Equity

The total interest or claim that all partners have in the net assets of a partnership.