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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
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Phoniex University
Oct-2001 - Nov-2016
Warmup Exercise 5-5Â Inventory Turnover
Sidney began the year with $130,000 in merchandise inventory and ended the year with
$190,000. Sales and cost of goods sold for the year were $900,000 and $640,000, respectively.
Required
1.       Compute Sidney’s inventory turnover ratio.
2.       Compute the number of days’ sales in inventory.
KEY TO THE SOLUTION Review how these two statistics are computed on pages 255–257.
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