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Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below: Accounts receivable 2021 2020 $ 86,000 $ 79,000 Inventory 89,000 72,000
Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below: Accounts receivable 2021 2020 $ 86,000 $ 79,000 Inventory 89,000 72,000 Net sales (all credit) 490,000 380,000 Cost of goods sold 265,000 224,000 Total assets 815,000 785,000 Total stockholders' equity 490,000 440,000 Net income 71,000 56,000 TPX Company's 2021 inventory turnover is: (Round your answer to 1 decimal place.) Multiple Choice 5.5 times. O 3.0 times. 3.3 times. 6.1 times
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