Use the Following to Calculate the Inventory Turnover Ratio for the Year

question 5

Essay

Use the following to calculate the inventory turnover ratio for the year 2019.
$\begin{array}{lll}&2019&2018\\\text { Cost of Goods Sold } & 585,000 & 475,000 \\\text { Merchandise Inventory } & 320,000 & 295,000\end{array}$

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