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For 2012, Nervous Energy Inc

Question 17

Multiple Choice

For 2012, Nervous Energy Inc. reported $24,000 beginning inventory and $26,000 ending inventory. Net sales were $160,000 and gross profit was $55,000 for the same period. Based on these figures, inventory turnover for 2012 was:


A) 3.4 times.
B) 4.2 times.
C) 6.4 times.
D) 9.2 times.

Correct Answer:

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