Estimate the inventory turnover for 2019. Balance Sheet 2019 Cash $8,000 2018 $4,000 AR Inventory Fixed Assets

Estimate  the inventory turnover for 2019. 

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Balance Sheet 2019 Cash $8,000 2018 $4,000 AR Inventory Fixed Assets 3,000 5,000 14,000 12,000 17,500 14,000 Total Assets $42,500 $35,000 AP $14,000 $8,000 Other Current Liabilities 4,500 5,500 Long-term Liabilities 8,500 9,500 Common Stock 2,000 2,000 Retained Earnings Total Liabilities & Equity 13,500 10,000 $42,500 $35,000 Income Statement Sales 2019 $80,000 COGS 62,000 Gross Profit 18,000 Operating Expenses 12,000 Operating Income 6,000 Other Income/Expenses (2,000) Net Income $4,000 Balance Sheet 2019 Cash $8,000 2018 $4,000 AR Inventory Fixed Assets 3,000 5,000 14,000 12,000 17,500 14,000 Total Assets $42,500 $35,000 AP $14,000 $8,000 Other Current Liabilities 4,500 5,500 Long-term Liabilities 8,500 9,500 Common Stock 2,000 2,000 Retained Earnings Total Liabilities & Equity 13,500 10,000 $42,500 $35,000 Income Statement Sales 2019 $80,000 COGS 62,000 Gross Profit 18,000 Operating Expenses 12,000 Operating Income 6,000 Other Income/Expenses (2,000) Net Income $4,000

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