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what is the inventory turnover ratio for 2018 i got 1.8? is it correct Green Thumb Garden Supplies reported the following information for 2017 and
what is the inventory turnover ratio for 2018 i got 1.8? is it correct Green Thumb Garden Supplies reported the following information for 2017 and 2018. 2018 2017 Assets Cash $ 50,000 $ 45,000 Accounts receivable 35,000 25,000 Inventory 25,000 20,000 Property, plant, and equipment 240.000 210.000 Total assets $350,000 $300.000 Liabilities and Shareholders' Equity Current liabilities Non-current liabilities Shareholders' equity-common Total liabilities and shareholders' equity $ 65,000 $ 60,000 110,000 90,000 175.000 150.000 $350,000 $300,000 Income statement for 2018 Sales Cost of goods sold Gross profit Operating expenses Income before income tax Income tax expense Net income $95,000 45.000 50,000 15.000 35,000 5.000 $30,000
what is the inventory turnover ratio for 2018 i got 1.8? is it correct
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