The following data were taken from the income statements of Wildhorse Co.. 2022 2021 Sales revenue...

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The following data were taken from the income statements of Wildhorse Co.. 2022 2021 Sales revenue $6,420,000 $6,296,000 Beginning inventory 969,500 842,800 Purchases 4,814,000 4,679,000 Ending inventory 1,178,000 969,500 (a) Compute the inventory turnover for each year. (Round answers to 1 decimal place, e.g. 12.5.) Inventory turnover 2022 times 2021 times The following data were taken from the income statements of Wildhorse Co.. 2022 2021 Sales revenue $6,420,000 $6,296,000 Beginning inventory 969,500 842,800 Purchases 4,814,000 4,679,000 Ending inventory 1,178,000 969,500 (a) Compute the inventory turnover for each year. (Round answers to 1 decimal place, e.g. 12.5.) Inventory turnover 2022 times 2021 times

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Inventory turnover is a measure of how efficiently a company manages its inventory It is calculated ... View the full answer