Answered: JP Vineyards has sales of $826,000, a…

JP Vineyards has sales of $826,000, a gross profit margin of 0.337, and inventory of $170,000. What is the company's inventory turnover ratio? Round to two decimal places.

Trigonometry (MindTap Course List)

10th Edition

ISBN:9781337278461

Author:Ron Larson

Publisher:Ron Larson

ChapterP: Prerequisites

SectionP.3: The Cartesian Plane And Graphs Of Equations

Problem 7ECP

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Question

JP Vineyards has sales of $826,000, a gross profit margin of 0.337, and inventory of $170,000. What is the company's inventory turnover ratio? Round to two decimal places.

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