The following data represent selected information from the comparative income statement and balance sheet for Hot Rolled Corporation for the years ended December 31, 2014 and 2013:
•10,000 shares of common shares have been issued and outstanding since the company was established. They had a market value of $90 per share on December 31, 2013, and they were selling for $91.50 on December 31, 2014.
Refer to the table above. The inventory turnover for Hot Rolled Corporation for the year ended December 31, 2014, was:
A) 4.00
B) 3.86
C) 3.61
D) 3.49
Correct Answer:
Verified
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