The following balance sheet information is provided for Gaynor Company: $$\begin{array} { l r r }
\text { Assets } & \text { Year 2 } & \text { Year } 1 \
\text { Cash } & \$ 4,000 & \$ 2,000 \

\text { Accounts receivable } &15,000 & 12,000\
\text { Inventory } & \$ 35,000 & \$ 38,000
\end{array}$$
Assuming Year 2 cost of goods sold is $153,300,what is the company's inventory turnover?
A) 4.0 times
B) 4.4 times
C) 4.2 times
D) None of these answers are correct.

Question

The following balance sheet information is provided for Gaynor Company: $$\begin{array} { l r r } 
\text { Assets } & \text { Year 2 } & \text { Year } 1 \
\text { Cash } & \$ 4,000 & \$ 2,000 \

\text { Accounts receivable } &15,000 & 12,000\
\text { Inventory } & \$ 35,000 & \$ 38,000 
\end{array}$$
 Assuming Year 2 cost of goods sold is $153,300,what is the company's inventory turnover?
A) 4.0 times
B) 4.4 times
C) 4.2 times
D) None of these answers are correct.

Quizplus · Accepted Answer

The Answer of The following balance sheet information is provided for Gaynor Company: $$\begin{array} { l r r } 
\text { Assets } & \text { Year 2 } & \text { Year } 1 \
\text { Cash } & \$ 4,000 & \$ 2,000 \

\text { Accounts receivable } &15,000 & 12,000\
\text { Inventory } & \$ 35,000 & \$ 38,000 
\end{array}$$
 Assuming Year 2 cost of goods sold is $153,300,what is the company's inventory turnover?
A) 4.0 times
B) 4.4 times
C) 4.2 times
D) None of these answers are correct.

The Following Balance Sheet Information Is Provided for Gaynor Company