The financial statements of Flathead Lake Manufacturing Company are shown below.

Note: The common shares are trading in the stock market for $15 per share.
Refer to the financial statements of Flathead Lake Manufacturing Company. The firm's inventory turnover ratio is ________. (Please keep in mind that when a ratio involves both income statement and balance sheet numbers, the balance sheet numbers for the beginning and end of the year must be averaged.)
A) 11.6
B) 10.2
C) 9.5
D) 7.7

Question

The financial statements of Flathead Lake Manufacturing Company are shown below.

Note: The common shares are trading in the stock market for $15 per share.
Refer to the financial statements of Flathead Lake Manufacturing Company. The firm's inventory turnover ratio is ________. (Please keep in mind that when a ratio involves both income statement and balance sheet numbers, the balance sheet numbers for the beginning and end of the year must be averaged.)
A) 11.6 
B) 10.2 
C) 9.5 
D) 7.7

Quizplus · Accepted Answer

Inventory Turnover = 11eaaae8_8b4a_0528_a4b8_25efd8d4792b_TB6474_11 = 11.62x

The Financial Statements of Flathead Lake Manufacturing Company Are Shown