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A Company Had Gross Profit of $134,200 on Net Sales

Question 114

Multiple Choice

A company had gross profit of $134,200 on net sales of $205,000. If ending inventory was $8,000 and average inventory was $7,080, what is the company's inventory turnover?


A) 10.0
B) 8.85
C) 16.77
D) 18.95
E) 28.95

Correct Answer:

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