The following information is available for tye company at december 31: beginning inventory $80,000; ending inventory $120,000; cost of goods sold $1,200,000; and sales revenue $1,600,000. tye’s inventory turnover is times.

=12 times

Explanation:

Inventory turnover ratio =cost of goods sold/ average inventory

Average inventory = opening inventory + closing inventory/2

Cost of goods sold= $ 1,200.000.00

Calculating Average inventory = $80,000 + $120,000/2

=$200,000/2

= $100,000

Inventory ratio =$ 1,2000.000/$ 100,000.00

=12 times

b, fewer problems later! good luck

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