The Moose Hardware Company had ending inventory of $124,300 this year, ending inventory of $142,000 last year, and $315,000 as cost of goods sold. Compute the inventory turnover rate.

Ending Inventory

The final value of goods available for sale at the end of an accounting period after all inventory purchases and sales have been accounted for.

Inventory Turnover Rate

A measure of how many times a company's inventory is sold and replaced over a specific period, often used to assess efficiency.

Cost Of Goods Sold

The direct costs attributable to the production of the goods sold by a company.