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The cost of goods sold computations for Marigold Company and Martinez Company are as follows. Marigold Company Martinez Company Beginning inventory $46,000 $71,000 Cost
The cost of goods sold computations for Marigold Company and Martinez Company are as follows. Marigold Company Martinez Company Beginning inventory $46,000 $71,000 Cost of goods purchased 196,000 290,165 Cost of goods available for sale 242,000 361,165 Ending inventory 56,475 70,000 Cost of goods sold $185,525 $291,165 (a1) Your answer is correct. Compute inventory turnover for each company. (Round answers to 2 decimal places, e.g. 15.25.) Marigold Company Martinez Company Inventory turnover 3.62 4.13
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