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Current assets $113,000 $82,000 Long-term assets $512,000 $440,000 Total assets $625,000 $522,000 Current liabilities $57,000 $52,000 Long-term liabilities $275,000 $245,000 Common stockholders' equity $293,000 $225,000 Total liabilities and stockholders' equity $625,000 $522,000 Inventory and prepaid expenses account for $30,000 of the current year's current assets. Average inventory for the current year is $38,250. Average net accounts receivable for the current year is $45,000. There are 35,000 shares of common stock outstanding. Total dividends paid during the current year were $17,000. The market price per share of common stock is $20. What is the inventory turnover for the current year

User Recurse
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1 Answer

5 votes

Answer:

B. 17.84 times

Step-by-step explanation:

COGS: 825,000

/ Average Inventory: 46,250

= 17.84

User Amare
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