The King Corporation has ending inventory of $386,735, and cost of goods sold for theyear just ended was $4,981,315.a. What is the inventory turnover? (Do not round intermediate calculations and roundyour answer to 2 decimal places, e.g., 32.16.)b. What is the days' sales in inventory? (Use 365 days a year. Do not roundintermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)c. How long on average did a unit of inventory sit on the shelf before it was sold? (Use365 days a year. Do not round intermediate calculations and round your answer to2 decimal places, e.g., 32.16.)a.Inventory turnovertimesb. Days' sales in inventorydaysC.Inventory days on shelfdays

Closing Inventory of King Corporation => $386,735 Cost of goods sold for the year =>…

Answered: The King Corporation has ending…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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