Island Industries Has a Cost of Goods Sold of $1,900,000

question 16

Multiple Choice

Island Industries has a cost of goods sold of $1,900,000. The beginning and ending merchandise inventories are $130,000 and $122,000, respectively. Island Industries inventory turnover ratio is: (Round your final answer to two decimal places.)

• A)14.62 times.
• B)15.57 times.
• C)15.08 times.
• D)30.19 times.

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