Refer to the following selected financial information from Texas Electronics. Compute the company’s inventory turnover f

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Refer to the following selected financial information from Texas
Electronics. Compute the company’s inventory turnover for Year 2.
Year 2 Year 1 Cash $ 38,600 $ 33,350 Short-term investments 101,000
65,500 Accounts receivable, net 91,000 85,000 Merchandise inventory
126,500 130,500 Prepaid expenses 13,200 10,800 Plant assets 393,500
343,500 Accounts payable 107,900 113,300 Net sales 716,500 681,500
Cost of goods sold 395,500 380,500