Given the following information, calculate the inventory turnover for ABC Co. for 2006 (pick closest number). $$\begin{array} { l c c }
\text { (in thousands of dollars) } & 2006 & 2005 \
\text { Sales } & \$ 19,535 & \$ 15,470 \
\text { Cost of goods sold } & \$ 15,101 & \$ 11,184 \
\text { Inventory } & \$ 2,809 & \$ 2,260
\end{array}$$
A)8.96
B)7.22
C)6.93
D)5.96

Question

Given the following information, calculate the inventory turnover for ABC Co. for 2006 (pick closest number). $$\begin{array} { l c c } 
\text { (in thousands of dollars) } & 2006 & 2005 \
\text { Sales } & \$ 19,535 & \$ 15,470 \
\text { Cost of goods sold } & \$ 15,101 & \$ 11,184 \
\text { Inventory } & \$ 2,809 & \$ 2,260
\end{array}$$
A)8.96
B)7.22
C)6.93
D)5.96

Quizplus · Accepted Answer

The Answer of Given the following information, calculate the inventory turnover for ABC Co. for 2006 (pick closest number). $$\begin{array} { l c c } 
\text { (in thousands of dollars) } & 2006 & 2005 \
\text { Sales } & \$ 19,535 & \$ 15,470 \
\text { Cost of goods sold } & \$ 15,101 & \$ 11,184 \
\text { Inventory } & \$ 2,809 & \$ 2,260
\end{array}$$
A)8.96
B)7.22
C)6.93
D)5.96

Given the Following Information, Calculate the Inventory Turnover for ABC