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Determine the inventory turnover

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Question - The following information was available for the year ended December 31, 2019:

Net sales $300,000

Cost of goods sold 210,000

Average accounts receivable for the year 15,000

Accounts receivable at year-end 18,000

Average inventory for the year 60,000

Inventory at year-end 70,000

Required - Determine the inventory turnover for 2019?

a. 4.3 times

b. 3.0 times

c. 5.0 times

d. 3.5 times

Reference no: EM132725011

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