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Determine the inventory turnover for Tomato and Happy Times

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Reference no: EM133071942

Question - The following data (in millions) were taken from recent annual reports of Tomato Computer, Inc., a manufacturer of personal computers and related products, and Happy Times Corporation, a manufacturer and distributor of greeting cards and related products:

 

Tomato

Happy Times

Cost of merchandise sold

$5,602,350

$1,575,000

Inventory, end of year

105,000

112,000

Inventory, beginning of the year

64,000

138,000

Required - Determine the inventory turnover for Tomato and Happy Times.

Reference no: EM133071942

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