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PQI Quality, Inc. takes inventory semiannually and bases inventory on selling price. Beginning inventory for the year was $90,800. Inventory at the end of the
PQI Quality, Inc. takes inventory semiannually and bases inventory on selling price. Beginning inventory for the year was $90,800. Inventory at the end of the first six months was $108,000. Ending inventory for the year was $97,600. Net sales for the year equal $357,740. Compute the inventory turnover at retail. 3.3 times 3.94 or 3.9 times 3.67 or 3.7 times 3.6 times
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