Question

Goldfire Ltd. provided the following information in 2013-2014:
Particulars
Inventory
Cost of goods sold
Gross Margin
31.3.2012 | 31.3.2013 31.3.2014
$ 202,400 | S 190,400 S 182,500
S 642,000 S 724,000
$ 340,000 S 410,000
Calculate the inventory turnover ratio for 2015 and 2014. Round off your answer to 2
decimal places.​

Answer 1

Explanation:

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