Question: Using the information provided, what is the inventory turnover for the firm Perfect Purchase Electronics Selected Income Statement Items, 2014 Cash Sales $1,500,000 Credit Sales

Using the information provided, what is the inventory turnover for the firm

Perfect Purchase Electronics

Selected Income Statement Items, 2014

Cash Sales $1,500,000

Credit Sales $7,500,000

Total Sales $9,000,000

COGS $6,000,000

Selected Balance Sheet Accounts

12/31/2014 12/31/2013 Change

Accounts Receivable $270,000 $240,000 $30,000

Inventory $125,000 $100,000 $25,000

Accounts Payable $110,000 $90,000 $20,000

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