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Determine the inventory turnover for tomato and happy times

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Question - Inventory Turnover - 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

$6,336,750

$932,800

Inventory, end of year

132,000

95,000

Inventory, beginning of the year

81,000

117,000

a. Determine the inventory turnover for Tomato and Happy Times. Round to one decimal place.

b. Would you expect Happy Times inventory turnover to be higher or lower than Tomato's?

Reference no: EM133177168

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