Brief Exercise 6-9
At December 31, 2019, the following information was available for Monty Corp.: ending inventory $37,500, beginning inventory $60,000, cost of goods sold $270,000, and
sales revenue $369,000.
Calculate inventory turnover for Monty Corp.. (Round answer to 1 decimal place, e.g. 1.5.)
Inventory turnover
times
Calculate days in inventory for Monty Corp.. (Round answer to 1 decimal place, e.g. 1.5. Use 365 days for calculation.)
Days in inventory
$
days