The following data were taken from Castle,Inc.
Determine the inventory turnover ratio and the number of days' sales in inventory for Castle Inc.Round to two decimal places.
Definitions:
Turnover
The total sales or revenue generated by a business within a specific period, or the rate at which inventory or assets are replaced.
Net Operating Income
The net income of a company before taxes and interest are taken out, but after operational costs have been deducted.
Average Operating Assets
Average operating assets are calculated as the average total assets used in day-to-day operations over a specified period, typically used in performance measurement.
Return on Investment
A performance measure used to evaluate the efficiency or profitability of an investment, calculated by dividing net profit by the cost of the investment.
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