Multiple Choice
The following information was available for Hoover Company at December 31, 2014: beginning inventory $110,000; ending inventory $70,000; cost of goods sold $880,000; and sales $1,200,000. Hoover's inventory turnover ratio in 2014 was
A) 13.3 times.
B) 9.8 times.
C) 12.6 times.
D) 8.0 times.
Correct Answer:
Verified
Correct Answer:
Verified
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