Consider the following financial data from the past year for a company (all figures are in millions
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Question:
Consider the following financial data from the past year for a company (all figures are in millions of dollars):
gross income: 28.5
total sales: 25.3
total credit sales: 19.6
net income: 3.7
cost of goods sold: 11.8
total assets: 11.5
average inventory: 4.2
average receivables: 5.3
Compute the inventory turnover ratio.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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