Question: Using the following data, compute inventory turnover. Inventory, December 31, year 1 . . . . . . . . . . . . .

Using the following data, compute inventory turnover.

Inventory, December 31, year 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 75,000

Cost of goods sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 300,000

Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 705,000

Inventory, January 1, year 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65,000


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