The average inventory at hamilton industries, comprising raw materials, work-in-process, and finished goods, was found to be $17.2 million last year. if the cost of goods sold per week averaged $1.32 million, what was the inventory turnover experienced by hamilton industries? assume the company had 50 working weeks per year.

The inventory turnover is 3.84 times

Explanation:

The computation of the inventory turnover ratio is shown below:

Inventory turnover ratio = (Cost of goods sold) ÷ (average inventory)

where,

Cost of the good sold per year =  cost of goods sold per week × number of weeks in a year

= $1.32 million × 50 weeks

= $66 million

And, the average inventory is $17.2 million

Now put these values to the above formula

So, the ratio would equal to

= $66 million ÷ $17.2 million

= 3.84 times

the best way to learn how to declare a major is to talk to a admissions office.

hi : ) i found this so i hope this !

"we first find value of tax in dollars.

the difference between the two prices   is: 23. 54 - 22 = 1.54

therefore the sales tax in dollars is 1.54

the tax % will be   (amount of tax / original cost price ) × 100

(1.54 / 22) × 100  → (0.07) × 100 =   7

so the tax rate is 7%

we can double check the answer.

7 % of 22   → (7/100) × 22 → 0.07 × 22 = 1.54

22 + 1.54 = 23.54"