Multiple Choice
Which of the following is the correct formula to calculate inventory turnover?
A) Inventory turnover = Cost of goods sold / Average merchandise inventory
B) Inventory turnover = Cost of goods sold × Average merchandise inventory
C) Inventory turnover = Cost of goods sold + Average merchandise inventory
D) Inventory turnover = Cost of goods sold - Average merchandise inventory
Correct Answer:
Verified
Correct Answer:
Verified
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