Financial statements for Marcell Company appear below:
-Marcell Company's inventory turnover for Year 2 was closest to:
A)16.2
B)23.2
C)14.2
D)9.9

Name: Financial statements for Marcell Company appear below: -Marcell Company's inventory turnover for Year 2 was closest to: A)16.2 B)23.2 C)14.2 D)9.9
Brand: Quizplus
Rating: 4.8 (31 reviews)

Question

Financial statements for Marcell Company appear below:  
-Marcell Company's inventory turnover for Year 2 was closest to:
A)16.2 
B)23.2 
C)14.2 
D)9.9

Quizplus · Accepted Answer

Inventory turnover = Cost of goods sold F1F1F1S1F1F1F10 Average inventory balance = $1,780 F1F1F1S1F1F1F10 $180* = 9.9
*Average inventory balance = ($180 + $180)F1F1F1S1F1F1F10 2 = $180

Financial Statements for Marcell Company Appear Below