Question: 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

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 year

55,000

Accounts receivable, end of year

45,000

Inventory, beginning of year

95,000

Inventory, end of year

115,000

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