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11Excerpts from Stealth Company's December 31, 2021 and 2020, financial statements are presented below: 2021 2020 Accounts receivable $ 41,000 $ 42,000 Inventory 21,000 42,000
11Excerpts from Stealth Company's December 31, 2021 and 2020, financial statements are presented below:
|
| 2021 |
|
| 2020 |
Accounts receivable | $ | 41,000 |
| $ | 42,000 |
Inventory |
| 21,000 |
|
| 42,000 |
Net sales |
| 193,000 |
|
| 188,000 |
Cost of goods sold |
| 123,000 |
|
| 119,000 |
Total assets |
| 433,000 |
|
| 419,000 |
Total stockholders' equity |
| 246,000 |
|
| 231,000 |
Net income |
| 33,000 |
|
| 38,000 |
|
Stealth Company's 2021 inventory turnover is: (Round your answer to 2 decimal places.)
Multiple Choice
- A)6.13 times.
- B)5.86 times.
- C)3.90 times.
- D)9.07 times.
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