Based on the Following Information,compute (A)inventory Turnover; (B)average Daily Cost

question 144

Essay

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

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Definitions:

Business Analysis

The practice of identifying business needs and determining solutions to business problems, often through analyzing data and processes.

Economic Analysis

The study or evaluation of the economic aspects of an action or decision, including costs, benefits, risks, and potential for profit.

Cannibalization Potential

The likelihood that a new product will decrease sales of existing products offered by the same company.

Prototype

An initial model of a product used to test and validate design principles before full-scale production.