Refer to the following selected financial information from Phantom Corp. Compute the company's inventory turnover for Year 2. $\begin{array}{lll}
& \text { Year 2 } & \text { Year 1 } \
\text { Merchandise inventory } & 271,000 & 253,500 \
\text { Cost of goods sold }& 486,400 & 433,100
\end{array}$
A) 1.79.
B) 1.71.
C) 1.85.
D) 0.93.
E) 1.75.

Question

Refer to the following selected financial information from Phantom Corp. Compute the company's inventory turnover for Year 2. $\begin{array}{lll}
& \text { Year 2 } & \text { Year 1 } \
\text { Merchandise inventory }  & 271,000 & 253,500 \
\text { Cost of goods sold }& 486,400 & 433,100
\end{array}$
A) 1.79.
B) 1.71.
C) 1.85.
D) 0.93.
E) 1.75.

Quizplus · Accepted Answer

The Answer of Refer to the following selected financial information from Phantom Corp. Compute the company's inventory turnover for Year 2. $\begin{array}{lll}
& \text { Year 2 } & \text { Year 1 } \
\text { Merchandise inventory }  & 271,000 & 253,500 \
\text { Cost of goods sold }& 486,400 & 433,100
\end{array}$
A) 1.79.
B) 1.71.
C) 1.85.
D) 0.93.
E) 1.75.

Refer to the Following Selected Financial Information from Phantom Corp