Compute the inventory turnover ratio using the following information: net sales is $100,000 for the year, costs of goods sold are $40,000, last year's assets in place were $900,000, and this year's assets in place are $1,100,000. receivables for both years are $50,000. inventory changed from $30,000 last year to $10,000 this year.

2

Explanation:

The formula for calculating inventory turn over :

Costs of goods sold/ average inventory

In this case:

Opening stock: $ 30,000.00

Closing stock: $ 10,000.00

Costs of goods sold : $ 40,000.00

Average inventory = Opening stock + closing stock/2

               = $ 30,000+ $ 10,000/2

                                    =$ 40,000/2

   =$ 20,00.00

Inventory turnover = $ 40,000.00/$20,000.00

   =2

net worth is the difference between what you own and what you have. if you exceed your liabilities you have a positive net worth. if your liabilities are greater than your assets you have a negative net worth. its a snapshot of your financial situation. if you calculate your net worth you will see the end result of everything you've earned and spent as of now. net worth statements and all you asked of can you determine where you are, how to get where you want to be, if your spending   to much. honestly it can tell you a lot of things. i can go on, but you can paint the picture from here.

explanation: