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The year-end financial statements of City Health Corporation reported the following information (in millions): Year 2 Year 1 Net sales $168,650 $145,626 Cost of sales
The year-end financial statements of City Health Corporation reported the following information (in millions):
Year 2 | Year 1 | |
Net sales | $168,650 | $145,626 |
Cost of sales | 141,236 | 120,424 |
Inventories, net | 14,760 | 14,001 |
The inventory turnover ratio for Year 2 is:
Group of answer choices are:
9.57
9.82
11.73
None of these are correct.
9.1
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