7) Using the information provided, what is the inventory turnover for the rm? Perfect Purchase Electronics Selected Income Statement Items, 2014 Cash Sales $1,500,000 Credit Sales $7,500,000 Total Sales $9,000,000 COGS $6,000,000 Perfect Purchase Electronics Selected Balance Sheet Accounts 1213112014 1213112013 Change Accounts Receivable $270,000 $240,000 $30,000 Inventory $125,000$100,000 $25,000 Accounts Payable $110,000$90,000 $20,000 A) 23.53 times B) 53.33 times C) 48.00 times D) 60.00 times Answer: iholdthesolutionatgmail