Selected financial information for Atwell Company for 2009 follows. Sales ........ $ 1,500,000 Cost of goods sold
Question:
Selected financial information for Atwell Company for 2009 follows.
Sales ........ $ 1,500,000
Cost of goods sold ... 1,200,000
Merchandise inventory
Beginning of year ..... 180,000
End of year ...... 220,000
Required
Assuming that the merchandise inventory buildup was relatively constant, how many times did the merchandise inventory turn over during 2009?
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