What is the inventory turnover

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Reference no: EM131826299

Problem -  Selected data of Islander Company follows:

 

As of December 31,

Balance Sheet Data

2011

2010

Accounts Receivable

$500,000

$470,000

Allowance for doubtful accounts

(25,000)

(20,000)

Net Accounts Receivable

$475,000

$450,000

 

 

 

Inventories - lower of cost or market

$600,000

$550,000

 

 

 

 

Year Ended December 31,

Income Statement Data

2011

2010

Net Credit Sales

$2,500,000

$2,200,000

Net Cash Sales

500,000

400,000

Net Sales

$3,000,000

$2,600,000

 

 

 

COGS

$2,000,000

$1,800,000

Selling, general, and administrative expenses

300,000

270,000

Other

50,000

30,000

Total Operating Expenses

$2,350,000

$2,100,000

 

 

 

What is the inventory turnover for 2011?

Reference no: EM131826299

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