Chodron Corporation Had Net Credit Sales of $13,000,000 and Cost

question 243

Multiple Choice

Chodron Corporation had net credit sales of $13,000,000 and cost of goods sold of $9,250,000 for the year. The average inventory for the year amounted to $1,250,000. The inventory turnover for the year is

• A) 7.4 times.
• B) 10.4 times.
• C) 3.0 times.
• D) 1.4 times.