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Calculating the average inventory the inventory turnover

Question: Calculating the Average Inventory, the Inventory Turnover Ratio, and the Inventory Turnover in Days Refer to the information for Nikkola Company on the previous page.

Required: 1. Calculate the average inventory.

2. Calculate the inventory turnover ratio.

3. Calculate the inventory turnover in days.

4. Conceptual Connection: Based on these ratios, does Nikkola appear to be performing well or poorly?

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Accounting Basics: Calculating the average inventory the inventory turnover

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Accounting Basics: Calculating the average inventory the inventory turnover

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