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Robertson Corporations inventory balance was $32,900 at the beginning of the year and $31,000 at...

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Question

Accounting

Robertson Corporations inventory balance was $32,900 at the beginning of the year and $31,000 at the end. The inventory turnover ratio for the year was 4.6 and the gross profit ratio 40%. What were net sales for the year? (Round your answer to the nearest dollar amount.)

Multiple Choice

  • $142,600.

  • $146,970.

  • $367,425.

  • $244,950.

Answer & Explanation Solved by verified expert
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