Question: Based on the following data for the current year, what is the inventory turnover? Sales on account during year $567,832 Cost of goods sold during

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

Sales on account during year $567,832
Cost of goods sold during year 200,892
Accounts receivable, beginning of year 48,317
Accounts receivable, end of year 49,089
Inventory, beginning of year 32,242
Inventory, end of year 41,511

Do not round interim calculations. Round your final answer to one decimal place.

a.5.4

b.1.4

c.2.8

d.23.7

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Based on the following data for the current year, what is the inventory turnover? Sales on account during year $486,648 Cost of goods sold during year 202,837 Accounts receivable, beginning of year...

Q:

55. MC.14-88 Based on the following data for the current year, what is the inventory turnover? Sales on account during year Cost of goods sold during year Accounts receivable, beginning of year...

Q:

Based on the following data for the current year, what is the inventory turnover? Sales on account during year $700,000 Cost of merchandise sold during year 295,000 Accounts receivable, beginning of...

Q:

Based on the following data for the current year, what is the inventory turnover? Sales on account during year Cost of goods sold during year Accounts receivable, beginning of year Accounts...

Q:

Based on the following data for the current year, what is the inventory turnover? Sales on account during year $553,004 Cost of goods sold during year 196,718 Accounts receivable, beginning of year...

Q:

Based on the following data for the current year, what is the inventory turnover? Sales on account during year $412,147 Cost of goods sold during year 180,691 Accounts receivable, beginning of year...

Q:

Based on the following data for the current year, what is the inventory turnover? Sales on account during year Cost of goods sold during year Accounts receivable, beginning of Accounts receivable,...

Q:

Based on the following data for the current year, what is the inventory turnover? Sales on account during year $562,442 Cost of goods sold during year 164,529 Accounts receivable, beginning of year...

Q:

Based on the following data for the current year, what is the inventory turnover? Sales on account during year $700,000 Cost of merchandise sold during year 270,000 Accounts receivable, beginning of...

Q:

Based on the following data for the current year, what is the inventory turnover? Sales on account during year Cost of merchandise sold during year Accounts receivable, beginning of year Accounts...

Q:

Use the following table of states of the economy and stock returns to calculate the expected return on a portfolio of 49 percent Roten and the rest in Bradley. Security if State Returns Occurs Prob...

Q:

Explain the details presented on the clouds concept. STAFFING Political factors Economic factors Organizational image Technological factors EXTERNAL FACTORS INTERNAL FACTORS Changes in employee roles...

Q:

Assume that avocado has sufficient capacity to fill the order without harming normal production and sales. What minimum unit price should avocado charge to make a $ 1 2 , 0 0 0 incremental profit?

Q:

Principles of Competitive Advantage Apple invested more than $ 1 billion dollars in the North Carolina center that will host the iCloud. For them to do so , they must perceive the iCloud to be a key...

Q:

=+What do you wish you had known when you were starting out?

Q:

=+How would you define yourself? List five words that capture who you are.

Q:

=+How do you communicate with others? Is your voice different from group to group, or is it the same?