The following data were taken from the income statements of Imhoff Company.
2014 |
2013 |
Sales revenue |
$6,620,400 |
$6,186,800 |
Beginning inventory |
960,100 |
844,500 |
Purchases |
4,756,700 |
4,647,900 |
Ending inventory |
1,141,000 |
960,100 |
(a) Compute the inventory turnover for each year. (Round answers to 1 decimal place, e.g. 12.5.)