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1. ABC Had sales of P12,000,000 of which all were on credit. Its operations resulted to a gross profit margin of 60%. If the inventory
1. ABC Had sales of P12,000,000 of which all were on credit. Its operations resulted to a gross profit margin of 60%. If the inventory was P600,000 and P1,000,000 at the beginning and end of the year, what is the inventory turnover? *
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