Consider a Firm with an Annual Net Income of $20

question 17

Multiple Choice

Consider a firm with an annual net income of $20 million,revenue of $60 million and cost of goods sold of $25 million.If the balance sheet amounts show $2 million of inventory and $500,000 of property,plant & equipment,what is the inventory turnover?

• A)12.50
• B)10.00
• C)42.00
• D)4.16
• E)20.00

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