Selected financial information for Perez Company for Year 4 follows:

Sales	$	2,250,000
Cost of goods sold		1,575,000
Merchandise inventory
Beginning of year		159,000
End of year		192,000

Required
Assuming that the merchandise inventory buildup was relatively constant, how many times did the merchandise inventory turn over during Year 4? (Round your answer to 2 decimal places.)

Answer rating: 100% (QA)

Merchant Inventory Turnover Cost of Goods Sold ... View the full answer