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Excerpts from TPX Company's December 31, 2013 and 2012, financial statements are presented below: 2013 2012 Accounts receivable $82,000 $80,000 Inventory 87,000 76,000 Net sales
Excerpts from TPX Company's December 31, 2013 and 2012, financial statements are presented below:
2013 | 2012 | |
Accounts receivable | $82,000 | $80,000 |
Inventory | 87,000 | 76,000 |
Net sales | 430,000 | 383,000 |
Cost of goods sold | 262,000 | 219,000 |
Total assets | 825,000 | 775,000 |
Total stockholders' equity | 510,000 | 445,000 |
Net income | 79,000 | 52,000 |
TPX Company's 2013 inventory turnover is (Round your answer to 1 decimal place):
4.9 times
5.3 times
3.0 times
3.2 times
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