BBB Ltd Has Provided Information from Its Financial Statements for the Year

question 64

Multiple Choice

BBB Ltd has provided information from its financial statements for the year ended 30 June 2015.
$$\begin{array} { l r } \text { Sales (all on credit) } & \$ 1,900,000 \\\text { Gross profit on sales } & 900,000 \\\text { Net profit } & 150,000 \\\text { Cost of sales } & 1,000,000 \\\text { Inventory at end of year } & 200,000 \\\text { Accounts receivable at end of year } & 500,000\end{array}$$
The company trades 365 days per year.
-The number of times BBB's inventory turned over for 2015 is:

• A) 2.0 times.
• B) 5.0 times.
• C) 5.5 times.
• D) 2.2 times.

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