Question: *Based on the following data for the current year, what is the inventory turnover? Net sales on account during year $800,000 Cost of merchandise sold

*Based on the following data for the current year, what is the inventory turnover? Net sales on account during year $800,000 Cost of merchandise sold during year 650,000 Accounts receivable, beginning of year 45,000 Accounts receivable, end of year Inventory, beginning of year Inventory, end of year 8.0 6.5 16.3 56.2 35,000 80,000 120,000

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