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Problem: Module 4 Textbook Problem 2 Learning Objective: 4-2 Calculate ratios for assessing a company's liquidity Selected financial information for Zachary Company for Year
Problem: Module 4 Textbook Problem 2 Learning Objective: 4-2 Calculate ratios for assessing a company's liquidity Selected financial information for Zachary Company for Year 4 follows: Sales Cost of goods sold Merchandise inventory Beginning of year End of year $1,550,000 1,085,000 152,000 198,000 Required Assuming that the merchandise inventory buildup was relatively constant, how many times did the merchandise inventory turn over during Year 4? (Round your answer to 2 decimal places.) Merchandise inventory turnover times
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