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A company had $82,781 in sales and $48,433 in cost of goods sold during the year. They had net income of $34,010. The average amount
A company had $82,781 in sales and $48,433 in cost of goods sold during the year. They had net income of $34,010. The average amount of inventory held during the year was $26,389. What was the inventory turnover ratio? Express your answer in times (rather than days) with one place to the right of the decimal (XX.X).
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