QUESTION 15 Based on the following data for the current year, what is the inventory turnover? (HINT: Inv TO = COGS/Average Inventory) Net sales on account during year Cost of merchandise sold during year Accounts receivable, beginning of year Accounts receivable, end of year Inventory, beginning of year Inventory, end of year O a. 8.3 b.3.7 O c. 3.0 O d. 3.3 $500,000 330,000 45,000 35,000 90,000 110,000

Based on the following data for the current year, what is the inventory turnover? (HINT: inv TO = COGS/Average inventory) Net sales on account during year Cost of merchandise sold during year Accounts receivable, beginning of year Accounts recelvable, end of year Invertory, beginning of year Inventory, end of year a. 8.3 b. 3.7 c. 3.0 d. 3.3