The average inventory at cost for the year for Media Industries was 162,300. Their cost of goods sold for the year was 738,400. The inventory turnover rate published for a business of this size is 5.2 times. a. Calculate the actual inventory turnover rate at cost for the company. (Round your answer to the nearest tenth) b. If the turnover rate is below the industry average of 5.2 times, calculate the target average inventory needed to match the industry standard.
Question 2
Find the net price for a three piece set of coffee tables with a list price of 2,500, less trade discounts of 25/20/15. Use the net price, complement method.
A) 1,225
B) 1,275
C) 1,500
D) 1,000
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