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Selected financial information for Benson Company for Year 4 follows: Sales $ 2,250,000 Cost of goods sold 1,575,000 Merchandise inventory Beginning of year 152,000 End
Selected financial information for Benson Company for Year 4 follows:
Sales | $ | 2,250,000 | |
Cost of goods sold | 1,575,000 | ||
Merchandise inventory | |||
Beginning of year | 152,000 | ||
End of year | 199,000 | ||
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.)
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