Weegy: Net sales is 40,000, beginning inventory is $14,000, ending inventory is $20,000,cost of goods sold is $19,500. [ The inventory turnover at retail
is 1.15.
inventory turnover ratio = cost of goods sold / average inventory
Let x is the inventory turnover ratio. x = $19,500 / ($14,000 + $20,000)/2;
x = $19,500 / $17,000;
x = 1.15. ]
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