Excerpts from Colter Corporation's most recent balance sheet appear below: Sales on account in Year 2 amounted to $1,210 and the cost of goods sold was $720.The inventory turnover for Year 2 is closest to:
A) 1.06
B) 0.94
C) 4.36
D) 4.24

Question

Excerpts from Colter Corporation's most recent balance sheet appear below:  Sales on account in Year 2 amounted to $1,210 and the cost of goods sold was $720.The inventory turnover for Year 2 is closest to:
A) 1.06 
B) 0.94 
C) 4.36 
D) 4.24

Quizplus · Accepted Answer

The Answer of Excerpts from Colter Corporation's most recent balance sheet appear below:  Sales on account in Year 2 amounted to $1,210 and the cost of goods sold was $720.The inventory turnover for Year 2 is closest to:
A) 1.06 
B) 0.94 
C) 4.36 
D) 4.24

Excerpts from Colter Corporation's Most Recent Balance Sheet Appear Below