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Financial ratios: Asset management. The financial statements for Tyler Toys, Inc. are shown in the popup window: Calculate the inventory turnover, days' sales in inventory, receivables turnover, days' sales in receivables, and total asset tumover for 2013 and 2014 for Tyler Toys. Should any of these ratios or the change in a ratio warrant concem for the managers of Tyler Toys or the shareholders? 

What is the inventory turnover ratio for 2014? (Round to four decimal places.) 

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Answer #1

Cost of goods sold = $8448830

Average inventory = $588404

Inventory turnover ratio = Cost of goods sold / Average inventory = 8448830/588404 = 14.3589

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