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If Beginning and Ending Inventories Are $12,000 and $29,000, Respectively

Question 48

Multiple Choice

If beginning and ending inventories are $12,000 and $29,000, respectively, and cost of goods sold is $480,000, what is the inventory turnover ratio? (Round your answer two decimal places.)


A) 23.41
B) 11.71
C) 40.00
D) 16.55

Correct Answer:

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