The following selected financial information from Texas Electronics. Compute the company's inventory turnover for Year 2.
Year 2 Year 1
Cash $ 39,400 $ 34,150 Short-term investments 109,000 69,500 Accounts receivable, net 95,000 89,000 Merchandise inventory 130,500 134,500 Prepaid expenses 14,000 11,600 Plant assets 397,500 347,500 Accounts payable 103,900 117,300 Net sales 720,500 685,500 Cost of goods sold 399,500 384,500
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The following selected financial information from Texas Electronics. Compute the company's inventory...
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