Exercise 9-4A (Algo) Inventory turnover LO 09-02
Selected financial information for Solomon Company for Year 4 follows:
Sales
$ 2,350,000
Cost of goods sold
1,645,000
Merchandise inventory
Beginning of year
151,000
End of year
194,000
Required
Assuming that the merchandise inventory buildup was relatively constant, how many times did the merchandise inventory turn over
during Year 4?
Note: Round your answer to 2 decimal places.
Merchandise inventory turnover
times