computer inventory turnover

H. JE VELMUT Current Yr 1 Yr Ago 2 Yrs AB At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 32,899 89,600 113,500 10,595 322, 398 $ 568,992 $ 38,456 $ 40,467 62,989 51,500 82,500 52,000 10,995 4,496 296,559 268,637 $ 499,510 $ 417,100 $ 138,845 $ 81,238 553,956 104,831 162,500 162,816 $ 568,992 119,561 99,336 162,500 162,500 136,211 110,388 $ 490,510 $ 417,109 The company's income statements for the Current Year and 1 Year Ago, follow. Assume that all sales are on credit For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Ne income Current Yr $ 739,690 $ 451, 211 229,384 12,575 1 Yr Ago $ 583,707 $ 379,410 147,678 13,425 8,756 9,616 702 706 35,984 $ $ 2.28 $ Earnings per Share Prey 67 of 14 !!! Next > C 1 TI VI LG | 04V, MKC | | | | | | | Miu Lu M vui Vi * LLLL Required information PICCOLINY CC YU Required 3A Required 3B Compute inventory turnover. Choose Numerator: Inventory Turnover Choose Denominator: Inventory Turnover Cost of goods sold Average inventory = Inventory turnover $ 0 times Current Yr: 1 Yr Ago: 451,211 / 379 410/ $ 0 times Required 3B > Prey of 14 Next >