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A company's assets consist of $123,456 of cash, $237,543 of accounts receivable, $348,876 of inventory, and $1,456,987 of plant and equipment. Its liabilities consist of
A company's assets consist of $123,456 of cash, $237,543 of accounts receivable, $348,876 of inventory, and $1,456,987 of plant and equipment. Its liabilities consist of $187,694 of accounts payable, $56,895 of accruals, and $622,156 of long-term debt. The company's annual sales are $3,678,775, its earnings before interest and taxes are $551,816, its earnings before taxes are $489,601, and its net income is $293,760. What is the company's inventory turnover? 11.5 10.5 7.9 12.3 9.1
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