1. Inventory turnover is calculated as __________ divided by __________. a....

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Accounting

1. Inventory turnover is calculated as __________ divided by __________.
a. cost of goods sold; inventory
b. cost of goods sold; average inventory
c. cost of goods sold; total assets
d. average inventory; cost of goods sold
2. The number of days' sales in inventory is calculated as __________ divided by __________.
a. average inventory; average daily cost of goods sold
b. ending inventory; cost of goods sold
c. net income; sales
d. cost of goods sold; average inventory

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