Selected information from Game World, Inc.'s December 31, 2022 and 2021 financial statements is presented below: Accounts receivable Inventory Net sales Cost of goods sold Total assets Total stockholders' equity Net income 2022 $ 83,000 92,000 420,000 257,000 835,000 515,000 73,000 2021 $79,000 81,000 379,000 219,000 750,000 425,000 56,000 Compute the company's 2022 inventory turnover ratio. (Round your answer to 1 decimal place.)
Selected information from Game World, Inc.'s December 31, 2022 and 2021 financial statements is presented below: Accounts receivable Inventory Net sales Cost of goods sold Total assets Total stockholders' equity Net income 2022 $ 83,000 92,000 420,000 257,000 835,000 515,000 73,000 2021 $79,000 81,000 379,000 219,000 750,000 425,000 56,000 Compute the company's 2022 inventory turnover ratio. (Round your answer to 1 decimal place.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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