RECOMMENDED!!ACCT 220-Alpha Company has the following account

  

Question 14 (2 points)Alpha Company has the following account balances information for fiscal year 2015 & 2016 (all balances are normal):Alpha CompanyDecember 31Accounts20162015Merchandise Inventory$1,200,000$800,000Office Supplies25,00020,000Sales3,000,0002,500,000Cost of Goods Sold2,500,0001,600,000Freight Out15,00010,000What is the FY 2016 inventory turnover ratio? Enter the answer as a number rounded to one decimal place followed by a space and the word times. (Example 1.123 would be entered 1.1 times)

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