Big bang fireworks normally purchases 120000 of inventory, Ask an Expert

Finance

Big Bang Fireworks normally purchases $120,000 of inventory each day. Each item normally remains in inventory 18 days before it is sold.

(a) What is the average amount of inventory that is reported on Big Bang's balance sheet?

(b) What is the inventory turnover?

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Category:- Basic Finance
Reference No.:- M92217661

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