Question: Using the information provided, what is the inventory turnover for the firm (rounded to 2 decimal places)? Precise Electronics Selected Income Statement Items, 2018 Cash

Using the information provided, what is the inventory turnover for the firm (rounded to 2 decimal places)?

Precise Electronics

Selected Income Statement Items, 2018

Cash Sales $1,500,000

Credit Sales $7,500,000

Total Sales $9,000,000

COGS $6,000,000

Precise Electronics Selected Balance Sheet Accounts 12/31/2018

Accounts Receivable $255,000

Inventory $112,500

Accounts Payable $100,000

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