Calculate the Average Inventory and Inventory Turnover Ratios

question 121

Short Answer

Calculate the average inventory and inventory turnover ratios: $$\begin{array} { l l l l l l } & \text { Beginning } & \text { Ending } & \text { Average } & \text { Cost of } & \text { Inventory } \\\text { Company } & \text { Inventory } & \text { Inventory } & \text { Inventory } & \text { Goods Sold } & \text { Turnover } \\\text { Brock Industries } & \$ 915,500 & \$ 1,616,800 & & \$ 3,300,000 &\end{array}$$