The year-end financial statement of Wando's Vineyards reported Net revenues of $19,425,412 and Cost of goods sold of $7,204,884 in year 2. Note 3 to the financial statements reported that Inventories consisted of:

	Year 2	Year 1
Winemaking and packaging materials	$654,269	$552,234
Work-in-process	5,307,211	4,846,961
Finished goods	3,615,045	3,106,775
Total inventories	$9,576,525	$8,505,970

calculate The inventory turnover for Year 2.

Answer rating: 100% (QA)

The inventory turnover ratio measures the number of times a company sells and ... View the full answer