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Selected financial information for Solomon Company for 2019 follows: Sales $ 2,500,000 Cost of goods sold 1,750,000 Merchandise inventory Beginning of year 154,000 End of
Selected financial information for Solomon Company for 2019 follows:
Sales | $ | 2,500,000 | |
Cost of goods sold | 1,750,000 | ||
Merchandise inventory | |||
Beginning of year | 154,000 | ||
End of year | 200,000 | ||
|
Required
Assuming that the merchandise inventory buildup was relatively constant, how many times did the merchandise inventory turn over during 2019? (Round your answer to 2 decimal places.)
Merchandise inventory turnover _________ times
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