Question

The following information pertains to two competitors, Mostly Inc. and Hardly Ltd. Company Beginning Inventory Ending...

The following information pertains to two competitors, Mostly Inc. and Hardly Ltd.

Company Beginning Inventory Ending Inventory Cost of Goods Sold
Mostly Inc. $164,000 $235,000 $859,604
Hardly Ltd. $593,000 $645,000 $1,871,324


Mostly Inc. reported sales revenues of $1,382,000 and Hardly Ltd. reported sales revenues of $2,716,000.

(a)

Calculate the inventory turnover ratio for Mostly and Hardly.

Mostly Inc. Hardly Ltd.
Inventory turnover ratio   times   times
Business   Accounting   
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