Multiple Choice
The Grand Department Store had net credit sales of $12,000,000 and cost of goods sold of $8,000,000 for the year.The average inventory for the year amounted to $1,600,000. The inventory turnover ratio for the year is
A) 4.0 times.
B) 7.2 times.
C) 5.0 times.
D) 2.5 times.
Correct Answer:
Verified
Correct Answer:
Verified
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