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The firm has the following information; Sales of $355,000 Cost of goods sold of $280,166 Inventory is $16,371 The operating income (EBIT) is $50,000

 

The firm has the following information; Sales of $355,000 Cost of goods sold of $280,166 Inventory is $16,371 The operating income (EBIT) is $50,000 The tax rate is 27% There are 4,321 shares outstanding. Total Liabilities (debt) of $81,000 Total Assets of $140,210 What is the firm's inventory turnover? Post your answer with 1 decimal place. 8.5 for example.

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