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French Co Has a Beginning Inventory of $77,000 and an Ending

Question 32

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French Co. has a beginning inventory of $77,000 and an ending inventory of $80,000. Sales were $280,000. Assume French's markup rate on selling price is 40%. Based on the selling price, what is the inventory turnover at cost? Round to the nearest hundredth.

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($77,000 + $80,000)/...

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