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Giorgio had cost of goods sold of $9,505 million, ending inventory of $2,173 million, and average inventory of $2,049 million. Its inventory turnover equals:

Sagot :

Answer:

Inventory turnover = 4.64

Explanation:

Below is the calculation for inventory turnover:

Cost of goods sold = $9505 million

Ending inventory = $2173 million

Average inventory = $2049

Now use the below formula to find the inventory turnover:

Inventory turnover = Cost of good sold / Average inventory

Inventory turnover = $9505 / $2049

Inventory turnover = 4.64

Thus the inventory turnover is 4.64.

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