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Last Year Truro Corporation Purchased $800,000 of Inventory

Question 17

Multiple Choice

Last year Truro Corporation purchased $800,000 of inventory. The cost of goods sold was $750,000 and the ending inventory was $125,000. The inventory turnover for the year was:


A) 6.0
B) 7.5
C) 6.4
D) 8.0

Correct Answer:

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