Pete's Planter, Inc., has the follawing information as of December 31. 2018:

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Read the requirements.

Requirement 1. Compute the rate of inventory turnover for Pete's Planter, Inc., for the year ended December 31, 2018. Round the result to two decimal places.

Begin by selecting the formula and then enter the amounts to calculate the inventory turnover. (Round the result to two decimal places, xXX.

Rate of inventory turnover

Requirements

Compute the rate of inventory turnover for Pete's Planter, Inc., for the year ended December 31, 2018. Round the result to two decimal places.

The rate of inventory turnover for Pete's Planter, Inc., was 17.36 in 2017. Has

the rate improved or deteriorated?

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Done

Sales revenue.

Cost of goods sold:

Beginning inventory

Net purchases

Cost of goods ava

Ending inve intory

Cost of goods sold

Gross profit

Operating expenses

1,610,000

24.000

680.000

704,000

90,300

613.700

996.300

388,700

607,600

Pecquirements Rest pet oeditivetis. Requirements