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Early in 2017, Chien Company switched to a just-in-time inventory system. Its sales revenue, cost of goods sold, and inventory amounts for 2016 and 2017
Early in 2017, Chien Company switched to a just-in-time inventory system. Its sales revenue, cost of goods sold, and inventory amounts for 2016 and 2017 are shown below. 2016 2017 Sales revenue Cost of goods sold Beginning inventory Ending inventory $3,121,000 $3,723,000 1,435,000 222,000 93,500 1,244,000 175,000 222,000 Determine the inventory turnover for 2016 and 2017. (Round answers to 1 decimal place, e.g. 1.5.) 2016 2017 Inventory turnover
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