Multiple Choice
The following information was available for Hoover Company at December 31, 2010: beginning inventory $90,000; ending inventory $70,000; cost of goods sold $660,000; and sales $900,000. Hoover's inventory turnover ratio in 2010 was
A) 9.4 times.
B) 8.3 times.
C) 7.3 times.
D) 6.0 times.
Correct Answer:
Verified
Correct Answer:
Verified
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