he following is a portion of the condensed income statement for Rowan, Inc., a manufacturer...
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he following is a portion of the condensed income statement for Rowan, Inc., a manufacturer of plastic containers: Net sales $ 3,360,000 Less: Cost of goods sold: Inventory, January 1 $ 720,000 Net purchases 2,800,000 Inventory, December 31 (735,000 ) 2,785,000 Gross profit $ 575,000 Required: 1. Determine Rowans inventory turnover. (Round your answer to 2 decimal places.)
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