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Grove Corporation Had Sales of $3,000,000,cost of Goods Sold of $2,250,000,and

Question 87

Multiple Choice

Grove Corporation had sales of $3,000,000,cost of goods sold of $2,250,000,and average inventory of $500,000.What was Grove's inventory turnover ratio for the period?


A) 1.6 times
B) 6 times
C) 4.5 times
D) 23 times

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