Auditing and Assurance Services 1st Edition by Iris Stuart

Exercise 9

During 2012, Rand Co. purchased $960,000 of inventory. The cost of goods sold for 2012 was $900,000, and the ending inventory at December 31, 2012, was $180,000. What was the inventory turnover for 2012
a. 6.4
b. 6.0
c. 5.3
d. 5.0