Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. universal sports supply began the year with an inv

Universal Sports Supply began the year with an inventory balance of $74,000 and a year-end...

70.2K

Verified Solution

Question

Accounting

image
Universal Sports Supply began the year with an inventory balance of $74,000 and a year-end balance of $66,000. Sales of $690.000 generate a gross profit of $230,000, Calculate the Inventory turnover ratio for the year (Round your final answer to 1 decimal place.) Inventory Turnover Ratio Universal Sports Supply times

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

For the following: 1) Identify the genotypes of the parents 2) Complete a Punnett Square &...

Biology
Q

What attitude towards death is visible in Tolstoy’s “The Death of Ivan Ilyich”? Mention at least...

Civil Engineering
Q

Problem 6 The deflection system in a CRT employs a magnetic field of 10 4...

Physics
Q

Two particles are fixed to an x axis particle 1 of charge q1 2 73...

Physics
Q

5 What will be the coordinates of point R if triangle RQS is rotated 90...

Geometry
Q

Banks are private and credit unions are nonprofit organizations owned by the people.TrueFalse

Calculus
Q

In July, the Assembly department of Mercury Manufacturing began the month with 1,200 units in...

Accounting
Q

SmartAI has made numerous gifts of various amounts $5000 to $16,000. SmartAI is curious...

Accounting
Q

"In my opinion, we ought to stop making our own drums and accept that outside...

Accounting
Q

What are the differences between basic and diluted earnings per share? What are the differences...

Accounting
Q

mostly need help with Question B 6) Davenport Corporation's last dividend was $2.70,...

Finance
Q

Suppose the finance manager of ABC Company suggests either issuing bonds or shares to raise...

Finance