Answer:
12.88
Explanation:
Given that,
Ending inventory = $386,735
Cost of goods sold for the year just ended = $4,981,315
The inventory turnover ration is determined by dividing the Cost of goods sold for the year just ended by the Ending inventory.
Inventory turnover:
= Cost of goods sold ÷ Ending inventory
= $4,981,315 ÷ $386,735
= 12.88
Therefore, the inventory turnover for the king corporation is 12.88
