Inventory turnoverSelected financial information for Froning Company for 2007 follows.
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Inventory turnover
Selected financial information for Froning Company for 2007 follows.
Sales
$1,500,000
Cost of Goods Sold
1,100,000
Merchandise Inventory
Beginning of Year
250,000
End of Year
300,000
Required
Assuming that the merchandise inventory buildup was relatively constant, how many times did the merchandise inventory turn-over during 2007?
