Multiple Choice
Allison Co. has a beginning inventory costing $90,000 and an ending inventory costing $120,000. Sales were $380,000. Assume Allison's markup rate is 40%. Based on the selling price, the inventory turnover at cost (to the nearest hundredth) is:
A) 2.17
B) 2.22
C) 1.47
D) 1.58
E) None of these
Correct Answer:
Verified
Correct Answer:
Verified
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