Question: Based on the following data for the current year, what is the inventory turnover? Net sales on account during year $500,000 Cost of merchandise sold

Based on the following data for the current year, what is the inventory turnover?

Net sales on account during year

$500,000
Cost of merchandise sold during year

340,000
Accounts receivable, beginning of year

45,000
Accounts receivable, end of year

35,000
Inventory, beginning of year

90,000
Inventory, end of year

110,000

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