Turnbull Department Store Had Net Credit Sales of $18000000 and Cost

question 169

Multiple Choice

Turnbull Department Store had net credit sales of $18000000 and cost of goods sold of $15000000 for the year. The average inventory for the year amounted to $2500000. Inventory turnover for the year is

• A) 7.2 times.
• B) 15 times.
• C) 6 times.
• D) 1.5 times.

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