Question 36 The following data are for Confession Company Accounts Payable: 5.290 Accounts Receivable 5160 Capital Stock 3970 Cash: $60 . Cost of Goods Sold: $1.480 Inventory: 5940 . Long-term Debt: $1.220 Net Income: (570) Property. Plant and Equipment (net): $610 Retained Earings: (860) Sales $2.200 Note: The retained earnings amount reported is as of the END of the year (after the closing entries have been made) and is a NEGATIVE amount. Compute INVENTORY TURNOVER Note: If you need to compute the average balance for any account, assume that the beginning-of- year balance is the same as the end-of-year balance reported above. 1.46 0234 1.55 O 0.79