Donny's Furniture Company sells industrial furniture for office buildings

Donny's Furniture Company sells industrial furniture for office buildings. During the current year, Donny reported cost of goods sold on its income statement of $1,000,000. Donny's beginning inventory was $3,000,000 and its ending inventory was $4,000,000. What is Donny's turnover ratio? 3. Given the following information, what is the annual inventory turnover ratio? Revenue $3,480,000 Cost of Revenue $2,137,500 Quarter 1 Ending Inventory $102,000 Quarter 2 Ending Inventory $145,000 Quarter 3 Ending Inventory $188,000 Quarter 4 Ending Inventory $135,000