Multiple Choice
At January 1, 2011, Britannica Inc.reported inventory of £425,000.At December 31, 2011, the inventory on hand was £501,000.If cost of goods sold for 2011 was £3,331,250, What is the inventory turnover ratio for the year?
A) 3.9 times.
B) 4.6 times.
C) 7.2 times.
D) 7.8 times.
Correct Answer:
Verified
Correct Answer:
Verified
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