Favorite Flavors, Inc. takes inventory semiannually and bases inventory on selling price. Beginning inventory for the year was $95,300. Inventory at the end of the first six months was $112,000. Ending inventory for the year was $99,900. Net sales for the year equal $327,680. Compute the inventory turnover at retail.

Question

Favorite Flavors, Inc. takes inventory semiannually and bases inventory on selling price. Beginning inventory for the year was $95,300. Inventory at the end of the first six months was $112,000. Ending inventory for the year was $99,900. Net sales for the year equal $327,680. Compute the inventory turnover at retail.​

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The Answer of Favorite Flavors, Inc. takes inventory semiannually and bases inventory on selling price. Beginning inventory for the year was $95,300. Inventory at the end of the first six months was $112,000. Ending inventory for the year was $99,900. Net sales for the year equal $327,680. Compute the inventory turnover at retail.​