Use the following information for Shafer Company to compute inventory turnover for year 2. Year 2 Year 1
Net sales $657,500 $584,900
Cost of goods sold 390,500 361,040
Ending inventory 79,700 81,380

4.85 times

Explanation:

The computation of the inventory turnover for the year 2 is shown below:

we know that

Inventory turnover = Cost of goods sold ÷ Average inventory

Here,  

Average inventory is

= ($79,700 + $81,380 ÷ 2)

= $80,540

So,  

The Inventory turnover is

= $390,500 ÷ $80,540

= 4.85 times

c

explanation:

c because the item on a bank statement is also referred to as an account statement. in addition, it provides the beginning balance, ending balance, statement date, transaction date for each transaction, payee, customer name and address, statement period, the account holder's account number, and the bank's customer service number

the definition of a small business is an independently owned and operated company that is limited in size and in revenue depending on the industry. a local bakery that employs 10 people is an example of a small business. a manufacturing facility that employees less than 500 people is an example of a small business.