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Based on the following data for the current year, what is the inventory turnover? Net sales on account during year $571,641 Cost of merchandise sold
Based on the following data for the current year, what is the inventory turnover?
Net sales on account during year | $571,641 |
Cost of merchandise sold during year | 216,813 |
Accounts receivable, beginning of year | 47,835 |
Accounts receivable, end of year | 54,374 |
Inventory, beginning of year | 38,838 |
Inventory, end of year | 44,896 |
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