Multiple Choice
In 20B,Landings Inc.provided the following information in their financial statements: Cost of goods sold under FIFO costing is $22.2 billion and their inventory value under FIFO is $1.3 billion at the end of 20B and $1.2 billion at the end of 20A.What would their inventory turnover ratio be under the FIFO cost flow method?
A) 8.9
B) 17.1
C) 17.8
D) 18.5
Correct Answer:
Verified
Correct Answer:
Verified
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