The following information is available for Compton Company:
|
2012
|
2011
|
|
| Accounts receivable | $ 360,000 | $ 400,000 |
| Inventory | 340,000 | 420,000 |
| Net credit sales | 2,470,000 | 1,400,000 |
| Cost of goods sold | 1,860,000 | 1,060,000 |
| Net income | 300,000 | 170,000 |
The inventory turnover ratio for 2012 is
- 5.5 times.
- 4.4 times.
- 6.2 times.
- 4.9 times.
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