Calculate palmers inventory turnover

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Reference no: EM13928657

Palmer Chocolates, a maker of chocolates that specializes in Easter candy, had the following inventories over the past year:

Month	Inventory Amount
January	$25,000,000
February	60,000,000
March	90,000,000
April	30,000,000
May	20,000,000
June	22,000,000
July	25,000,000
August	38,000,000
September	50,000,000
October	60,000,000
November	70,000,000
December	30,000,000

Palmer had sales of $290 million over the past year. Cost of sales constituted 50 percent of sales. Calculate Palmer's inventory turnover using beginning of year inventory, end of year inventory, and a monthly average inventory. Which method do you feel is most appropriate? Why?

Reference no: EM13928657

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