Consider the following financial data from the past year for a company (all figures are in millions

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Consider the following financial data from the past year for a company (all figures are in millions of dollars):

gross income: 29.5

total sales: 25.8

total credit sales: 19.0

net income: 3.2

cost of goods sold: 10.1

total assets: 10.6

average inventory: 5.3

average receivables: 6.8

1. Compute the inventory turnover ratio.

Related Book For answer-question

Financial Reporting Financial Statement Analysis and Valuation a strategic perspective

ISBN: 978-1337614689

9th edition

Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

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Posted Date: Dec 22, 2023 07:08 AM

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Consider the following financial data from the past year for a company (all figures are in millions

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The inventory turnover ratio is a financial ratio that measures how many times a companys inve... View the full answer

Financial Reporting Financial Statement Analysis and Valuation a strategic perspective

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