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Question - Excerpts from Hulkster Company's December 31, 2021 and 2020, financial statements are presented below:
2021
2020
Accounts receivable
$62,000
$47,000
Merchandise inventory
39,000
57,000
Net sales
261,600
251,000
Cost of goods sold
136,000
119,000
Total assets
447,000
416,000
Total shareholders' equity
262,000
236,000
Net income
49,000
Required - Determine the Hulkster's 2021 inventory turnover?
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