Course Solutions Uncategorized (Answered) : A grocery chain recently reported annual sales of $89 billion, inventory of $5.8 billion, and annual cost of goods sold of $64 b

(Answered) : A grocery chain recently reported annual sales of $89 billion, inventory of $5.8 billion, and annual cost of goods sold of $64 b

June 27, 2024June 27, 2024| adminadmin| 0 Comment| 7:40 pm
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A grocery chain recently reported annual sales of $89 billion, inventory of $5.8 billion, and annual cost of goods sold of $64 billion. What are the firm’s annual inventory turns?

Expert Answer

Turns=Rate/Inventory

Rate=COSG/time periods where COGS=cost of goods sold

Therefore Turns=(64/1)/5.8

=64/5.8=11.034 turns

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