What was Wellmart's inventory turnover in 2019? Wellmart Financial Statement Data. Balance Sheet Data. Dollars in millions, except per share and share numbers. Cash was $300,000 in 2020, $200,000 in 2019, and $100,000 in 2018. Inventory was $900,000 in 2020, $1,200,000 in 2019, and $1,150,000 in 2018. Accounts receivable was $700,000 in 2020, $650,000 in 2019, and $600,000 in 2018. Other current assets were $200,000 in 2020, 2019, and 2018. Total current assets were $2,100,000 in 2020, $2,250,000 in 2019, and $2,050,000 in 2018. Income statement data. Dollars in millions, except per share and share numbers. Revenues were $10,000,000 in 2020, $9,750,000 in 2019, and $9,500,000 in 2018. Cost of goods sold were $6,000,000 in 2020, $5,850,000 in 2019, and $5,700,000 in 2018. Gross profit was 4,000,000 in 2020, $3,900,000 in 2019, and $3,800,000 in 2018.

Answer rating: 100% (QA)

To calculate Wellmarts inventory turnover in 2019 well use the ... View the full answer