The Following Information Was Available for Hoover Company at December

question 218

Multiple Choice

The following information was available for Hoover Company at December 31, 2014: beginning inventory $110,000; ending inventory $70,000; cost of goods sold $880,000; and sales $1,200,000. Hoover's inventory turnover ratio in 2014 was

• A) 13.3 times.
• B) 9.8 times.
• C) 12.6 times.
• D) 8.0 times.