Foxmoor Company's Merchandise Inventory and Other Related Accounts for 2012

question 37

Essay

Foxmoor Company's merchandise inventory and other related accounts for 2012 follow:
$\begin{array}{|l|l|}\hline \text { Sales } & \$ 2,937,500 \\\hline \text { Cost of GoodsSold } & 2,303,400 \\\hline \text { Merchandise Inventory } & \\\hline \text { Begiming of Year } & 650,000 \\\hline \text { End of Year } & 825,000 \\\hline & \\\hline\end{array}$
Required:
Calculate Foxmoor's inventory turnover during 2012 assuming that the merchandise inventory buildup was relatively constant during the year.

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