Multiple Choice
Use the following information for questions.
Nelly Inc. reported net credit sales of $24,000,000 and cost of goods sold of $18,000,000 for the year. The average inventory for the year was $6,000,000.
-The inventory turnover ratio for the year was
A) 3.0 times.
B) 33.3 times.
C) 4.0 times.
D) 25.0 times.
Correct Answer:
Verified
Correct Answer:
Verified
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