From the following partial income statement, calculate the inventory turnover for the period.
Net sales | $2,028,000 |
Cost of goods sold: | |
Beginning inventory | $234,000 |
Purchases | 1,236,000 |
Cost of goods available for sale | $1,560,000 |
Less: Ending inventory | 265,200 |
Cost of goods sold | 1,294,800 |
Gross margin | $733,200 |
Operating expenses | 327,600 |
Net operating income | $405,600 |
The following information is provided for each Investment Center.
Investment Center | Income | Average Assets |
---|---|---|
Cameras | $6,100,000 | $27,200,000 |
Phones | 2,639,000 | 20,300,000 |
Computers | 1,200,000 | 11,400,000 |
Compute return on investment for each investment center. Which center performed the best based on return on investment?