Joe's Beer, Bait, & Tackle Co. is a small chain of fishing tackle stores in northern Minnesota. In 2009, the company's revenue was $4,300,000 and its cost of sales was $3,200,000. Assume 52 weeks and 365 days per year.
Q5. Joe keeps only 5.5 days-of-supply of inventory on average because much of his inventory is live bait and micro-brew beer, both of which have a short shelf life. What is his annual inventory turns?