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what was the inventory turnover for 2018? Young, Inc. 2018 Statement of comprehensive income ($ in millions) Net sales $1,384 Less: Cost of goods sold
what was the inventory turnover for 2018?
Young, Inc. 2018 Statement of comprehensive income ($ in millions) Net sales $1,384 Less: Cost of goods sold 605 Less: Depreciation 180 Earnings before interest and taxes 599 Less: Interest paid 80 Taxable income 519 Less: Taxes 156 Net income $363 Addition to retained earnings $254 Dividends paid 109 Young, Inc. 2017 and 2018 Statement of financial position ($ in millions) 2017 2018 $100 $121 Accounts payable 350 425 Notes payable 440 410 Total $890 $956 Long-term debt 1,556 1,704 Common stock $2,446 $2,660 Total liabilities Cash Accounts rec. Inventory Total Net fixed assets Total assets Retained earnings 2017 $400 390 $790 500 600 556 $2,446 2018 $350 370 $720 550 580 810 $2,660 What was inventory turnover for 2018? Multiple Choice O 3.15 O O 1.38 1.42 O O O O 1.38 1.42 1.48 3.38Step by Step Solution
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