Multiple Choice
During the year just ended, the retailer James Corporation purchased $425,000 of inventory. The inventory balance at the beginning of the year was $175,000. If the cost of goods sold for the year was $450,000, then the inventory turnover for the year was:
A) 2.77
B) 2.57
C) 3.00
D) 2.62
Correct Answer:
Verified
Correct Answer:
Verified
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