The following information is available for tye company at december 31: beginning inventory $80,000; ending inventory $120,000; cost of goods sold $1,200,000; and sales revenue $1,600,000. tye’s inventory turnover is times.

=12 times

Explanation:

Inventory turnover ratio =cost of goods sold/ average inventory

Average inventory = opening inventory + closing inventory/2

Cost of goods sold= $ 1,200.000.00

Calculating Average inventory = $80,000 + $120,000/2

=$200,000/2

= $100,000

Inventory ratio =$ 1,2000.000/$ 100,000.00

=12 times

explanation: i am going to tell you a lie dont know i just wanted to answer lol

i'm pretty sure the answer is 60.