Baker mfg inc. wishes to compare its inventory turnover to those of industry leaders, who have turnover of about 13 times per year and 8% of their assets invested in inventory. baker mfg. inc. net revenue $27,500 cost of sales $21,320 inventory $1,230 total assets $17,500 (a) what is baker's inventory turnover? nothing times per year (round your response to two decimal places).

The Baker's inventory turnover is 17.33 times

Explanation:

Inventory Turnover: It is a ratio which shows a relationship between the cost of goods sold and the average inventory

For computing the inventory turnover ratio, we have to apply the formula which is shown below:

Inventory turnover ratio = Cost of sales ÷ inventory

                                        = $21,320 ÷ $1,230

                                        = 17.33 times

The other items which are mentioned in the question are not considered. Hence, these are ignored.

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