Author Question: Cost of goods sold for Califant Industries was 989,420 for the year. If the beginning inventory at ... (Read 122 times)

michelleunicorn · **on:** Jun 24, 2018

Cost of goods sold for Califant Industries was 989,420 for the year. If the beginning inventory at cost was 603,700 and the ending inventory at cost was 414,200, find the inventory turnover at cost. (Round your answer to the nearest tenth)
A) 1.9 Times
B) 2.4 Times
C) 2.0 Times
D) 3.2 Times

Question 2

What was the trade discount rate if items sold with a list price of 7,550 were sold at a net price of 5,220? (Round to the nearest whole percent)
A) 31
B) 65
C) 35
D) 58