Exercise 13-4A (Algo) Inventory turnover LO 13-2
Selected financial information for Munoz Company for Year 4 follows:
Sales $ 1,500,000
Cost of goods sold 1,050,000
Merchandise inventory
Beginning of year 153,000
End of year 192,000
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