Cromwell Company Began the Year with a Balance in Inventory

question 19

Multiple Choice

Cromwell Company began the year with a balance in inventory of $110,000 and ended the year with a balance of $102,000.The net sales for the year were $983,000 with a gross profit on sales of $295,000.What was the inventory turnover ratio?

• A)2.78
• B)9.27
• C)6.49
• D)2.89

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The freedom of individuals to make decisions or actions without coercion or constraint from external entities, often seen in contexts like voting, employment, and consumer behavior.

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