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The Following Information Is Available for Patterson Company The Inventory Turnover for 2021 Is
A)6

Question 18

Multiple Choice

The following information is available for Patterson Company: 20212020 Accounts receivable $360,000$340,000 Inventory 280,000320,000 Net credit sales 3,000,0001,400,000 Cost of goods sold 1,800,000840,000 Net income 300,000170,000\begin{array}{lrr}&2021&2020\\\text { Accounts receivable } & \$ 360,000 & \$ 340,000 \\\text { Inventory } & 280,000 & 320,000 \\\text { Net credit sales } & 3,000,000 & 1,400,000 \\\text { Cost of goods sold } & 1,800,000 & 840,000 \\\text { Net income } & 300,000 & 170,000\end{array} The inventory turnover for 2021 is


A) 6.4 times.
B) 6.0 times.
C) 5.6 times.
D) 3.0 times.

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