Refer to the following selected financial information from McCormik, LLC. Compute the company's inventory turnover...
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Accounting
Refer to the following selected financial information from McCormik, LLC. Compute the company's inventory turnover for Year 2. Year 2 Year 1 Cash $ 38,200 $ 32,950 Short-term investments 97,000 63,500 Accounts receivable, net 89,000 83,000 Merchandise inventory 124,500 128,500 Prepaid expenses 12,800 10,400 Plant assets 391,500 341,500 Accounts payable 109,900 111,300 Net sales 714,500 679,500 Cost of goods sold 393,500 378,500 3.11. 3.56. 3.06. 3.16. 5.74.
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