Waters Department Store Had Net Credit Sales of $16,000,000 and Cost

question 116

Multiple Choice

Waters Department Store had net credit sales of $16,000,000 and cost of goods sold of $12,000,000 for the year. The average inventory for the year amounted to $2,000,000. Inventory turnover for the year is

• A) 8 times.
• B) 14 times.
• C) 6 times.
• D) 4 times.

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