Question

A company has $72,500 of inventory at the beginning of the year and $65,500 at the end of the year. Sales revenue is $986,400, cost of goods sold is $572,700, and net income is $124,200 for the year. The inventory turnover ratio is closest to:

A) 1.8.

B) 8.3.

C) 6.0.

D) 14.3.

Answer

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