Question Content AreaBased on the following data for the current year, what is the inventory turnover?Sales on account during year$507,225Cost of goods sold during year190,106Accounts receivable, beginning of year47,004Accounts receivable, end of year51,339Inventory, beginning of year36,189Inventory, end of year44,233Do not round interim calculations. Round your final answer to one decimal place.a.1.2b.28.9c.4.7d.2.7

Introduction: Inventory turnover is a financial ratio that indicates how frequently a company's…

Answered: Based on the following data for the…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 5BE

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Question Content Area

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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