A COMPANY'S JANUARY 1 BALANCE IN MERCHANDISE INVENTORY IS $40,000. THE DECEMBER 31 BALANCE IS $35,000. COST OF GOODS SOLD IS $220,000. THE COMPANY'S...

A COMPANY'S JANUARY 1 BALANCE IN MERCHANDISE INVENTORY IS $40,000. THE DECEMBER 31 BALANCE IS $35,000. COST OF GOODS SOLD IS $220,000. THE COMPANY'S INVENTORY TURNOVER IS: A. 17.05 TO 1 B. 6.29 TO 1 C. 5.87 TO 1 D. 18.18 TO 1

Question: A COMPANY'S JANUARY 1 BALANCE IN MERCHANDISE INVENTORY IS $40,000.DECEMBER 31 BALANCE IS $35,000. COST OF GOODS SOLD IS $220,000.THE COMPANY'S INVENTORY TURNOVER IS:A. 17.05 TO 1B....