Use the Following Information for Shafer Company to Compute Inventory

question 64

Multiple Choice

Use the following information for Shafer Company to compute inventory turnover for year 2. $$\begin{array} { | l | r | r | } \hline & \text { Y ear } 2 & \text { Y ear } 1 \\\hline \text { Net sales } & \$ 647,500 & \$ 582,000 \\\hline \text { Cost of goods sold } & 389,500 & 360,840 \\\hline \text { Ending inventory } & 76,700 & 79,380 \\\hline\end{array}$$

• A)8.44
• B)9.98
• C)5.08
• D)4.99
• E)8.30

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