Jones Companys sales are $1,000,000 and the gross margin percentage is 60%. The beginning and ending inventory
Question:
Jones Company’s sales are $1,000,000 and the gross margin percentage is 60%.
The beginning and ending inventory balances are $240,000 and $260,000, respectively.
What is the inventory turnover?
a. 1.60
b. 2.40
c. 3.40
d. 3.60
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ISE Introduction To Managerial Accounting
ISBN: 9781260091755
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