Please give me correct answer this financial accounting question The following information was available for Evergreen Industries atDecember 31, 2022:Beginning Inventory = $95,000Ending Inventory = $135,000Cost of Goods Sold (COGS) = $750,000Sales = $1,020,000What was Evergreen Industries' inventory turnover ratio (rounded)for 2022?

Step 1: Define Inventory Turnover RatioThe Inventory Turnover Ratio measures how efficiently a…

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Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 16PB: Use the following information relating to Medinas Company to calculate the inventory turnover ratio,...

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The following information was available for Evergreen Industries at December 31, 2022: Beginning Inventory = $95,000 Ending Inventory = $135,000 Cost of Goods Sold (COGS) = $750,000 Sales = $1,020,000 What was Evergreen Industries' inventory turnover ratio (rounded) for 2022?