Acompany reports the following: cost of goods sold $660,000 average inventory 60,000 determine (a) the inventory turnover and (b) the number of days' sales in inventory. round interim calculations to the nearest dollar and final answers to one decimal place. assume 365 days a year.

the inventory turnover is 11

while the average days outstanding is 33 days

Explanation:

inventory turnover:

the amount of times the inventory rotetes (is being sold) during the period

660,000/60,000 = 11

The company sold his invenotry 11 times

days outstanding :

time to sale the entire inventory

if it rotates 11 times per year and the year has 365 days then:

365/11 = 33.18 = 33days

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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