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Based on the Following Data for the Current Year, Compute

Question 44

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Based on the following data for the current year, compute the inventory turnover. ?  Net sales on account during the year $585,000 Cost of merchandise sold during the year 380,000 Accounts receivable, beginning of year 47,000 Accounts receivable, end of year 36,000 Inventory, beginning of year 92,000 Inventory, end of year 113,000\begin{array} { l r } \text { Net sales on account during the year } & \$ 585,000 \\\text { Cost of merchandise sold during the year } & 380,000 \\\text { Accounts receivable, beginning of year } & 47,000 \\\text { Accounts receivable, end of year } & 36,000 \\\text { Inventory, beginning of year } & 92,000 \\\text { Inventory, end of year } & 113,000\end{array}


A) 1.1
B) 1.9
C) 3.7
D) 2.9

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