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Based on the following data for the current year, what is the inventory turnover? Sales on account during year $507,225 Cost of goods sold during year 190,106 Accounts receivable, beginning of year 47,004 Accounts receivable, end of year 51,339 Inventory, beginning of year 36,189 Inventory, end of year 44,233 Do not round interim calculations. Round your final answer to one decimal place. a.1.2 b.28.9 c.4.7 d.2.7

Based on the following data for the current year, what is the inventory turnover? Sales on account during year $507,225 Cost of goods sold during year 190,106 Accounts receivable, beginning of year 47,004 Accounts receivable, end of year 51,339 Inventory, beginning of year 36,189 Inventory, end of year 44,233 Do not round interim calculations. Round your final answer to one decimal place. a.1.2 b.28.9 c.4.7 d.2.7

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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    Based on the following data for the current year, what is the inventory turnover?

    Sales on account during year $507,225
    Cost of goods sold during year 190,106
    Accounts receivable, beginning of year 47,004
    Accounts receivable, end of year 51,339
    Inventory, beginning of year 36,189
    Inventory, end of year 44,233

    Do not round interim calculations. Round your final answer to one decimal place.

    a.1.2
    b.28.9
    c.4.7
    d.2.7
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