A firm has sales of $300,000, Cost of Goods Sold of 225,000, a net income...
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Finance
A firm has sales of $300,000, Cost of Goods Sold of 225,000, a net income of $15,000, and the following balance sheet: Cash $ 10,000 Accounts payable $ 30,000 Receivables Other current liabilities 20,000 Inventories Long-term debt 50,000 Net fixed assets 90.000 Common equity 200.000 Total assets Total liabilities and equity $300,000 Calculate the firm's Inventory Turnover. 0.67 1.5 1.0 0.75
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