For 2022, Superplus Inc. reported $48,000 beginning inventory and $52,000 ending inventory. Net sales were $320,000 and gross profit was $110,000 for the same period. Based on these figures, inventory turnover for 2022 was O a. 3.4 times. O b. 6.4 times. OC. 9.2 times. O d. 4.2 times.
For 2022, Superplus Inc. reported $48,000 beginning inventory and $52,000 ending inventory. Net sales were $320,000 and gross profit was $110,000 for the same period. Based on these figures, inventory turnover for 2022 was O a. 3.4 times. O b. 6.4 times. OC. 9.2 times. O d. 4.2 times.
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 46E
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![For 2022, Superplus Inc. reported $48,000 beginning inventory and $52,000 ending inventory. Net sales were $320,000 and gross profit
was $110,000 for the same period. Based on these figures, inventory turnover for 2022 was
a.
b.
3.4 times.
6.4 times.
C. 9.2 times.
d. 4.2 times.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4906b07e-b613-4893-8da7-74cf06e16874%2F79b1f08c-ecfd-497d-8430-3651df767d97%2F8xzr46v_processed.jpeg&w=3840&q=75)
Transcribed Image Text:For 2022, Superplus Inc. reported $48,000 beginning inventory and $52,000 ending inventory. Net sales were $320,000 and gross profit
was $110,000 for the same period. Based on these figures, inventory turnover for 2022 was
a.
b.
3.4 times.
6.4 times.
C. 9.2 times.
d. 4.2 times.
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