Palamino Company had an $18,000 beginning inventory and a $21,000 ending inventory . Net sales were $200,000:

Question:

Palamino Company had an $18,000 beginning inventory and a $21,000 . Net sales were $200,000: purchases, $95,000; purchase returns and allowances, $6,000; and freight-in, $8,000.Cost of goods sold fo rhte period is $94,000.
What is Palamino's rate of inventory turnover?
A. 4.5 times
B. 4.9 times
C. 9.5 times
D. 4.8 times
Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...