The Following Data Were Taken from Castle, Inc.​

question 168

Essay

The following data were taken from Castle, Inc.​
Cost of goods sold
$894,000
Inventory, end of year
78,000
Inventory, beginning of the year
92,000
Determine the inventory turnover ratio and the number of days' sales in inventory for Castle Inc. Round to two decimal places.

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Definitions:

A/R Ratio

A financial metric, often used in business, representing Accounts Receivable turnover or efficiency in collecting receivables.

Cost-Benefit Analysis

A systematic approach to estimating the strengths and weaknesses of alternatives to determine the best option to achieve benefits while minimizing costs.

Office Manager

An Office Manager is a professional responsible for overseeing the day-to-day operations of an office, including administrative tasks and staff supervision.

Accounts Payable

Financial obligations or debts a company owes to its suppliers or creditors for goods and services received.