Financial statements for Larkins Company appear below:

Dividends during Year 2 totaled $135 thousand, of which $12 thousand were preferred dividends. The market price of a share of common stock on December 31, Year 2 was $150.

-Lisa Inc.'s inventory turnover for Year 2 was closest to:

Question

Financial statements for Larkins Company appear below:

Dividends during Year 2 totaled $135 thousand, of which $12 thousand were preferred dividends. The market price of a share of common stock on December 31, Year 2 was $150.

-Lisa Inc.'s inventory turnover for Year 2 was closest to:

Quizplus · Accepted Answer

The inventory turnover ratio is calculated by dividing the cost of goods sold by the average inventory. Without specific figures, we assume the closest option based on typical calculations.

Financial Statements for Larkins Company Appear Below