Selected financial information for Martin Company for Year 2 follows:
$\begin{array}{lr}
\text { Sales } & \$ 498,000 \
\text { Cost of goods sold } & 320,000 \
\text { Merchandise inventory } & \
\text { Beginning of year } &72,000 \
\text { End of year } & 80,000
\end{array}$
Required:
How many times did Martin's merchandise inventory turnover during Year 2? (Round your answer to one decimal place.)

Question

Selected financial information for Martin Company for Year 2 follows:
 $\begin{array}{lr}
\text { Sales } & \$ 498,000 \
\text { Cost of goods sold } & 320,000 \
\text { Merchandise inventory } &  \
\text { Beginning of year } &72,000 \
\text { End of year } & 80,000
\end{array}$
 Required:
How many times did Martin's merchandise inventory turnover during Year 2? (Round your answer to one decimal place.)

Quizplus · Accepted Answer

The Answer of Selected financial information for Martin Company for Year 2 follows:
 $\begin{array}{lr}
\text { Sales } & \$ 498,000 \
\text { Cost of goods sold } & 320,000 \
\text { Merchandise inventory } &  \
\text { Beginning of year } &72,000 \
\text { End of year } & 80,000
\end{array}$
 Required:
How many times did Martin's merchandise inventory turnover during Year 2? (Round your answer to one decimal place.)

Selected Financial Information for Martin Company for Year 2 Follows