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Assume a company provided the following information: Gross margin percentage Sales Inventory balance, beginning of the year Inventory balance, end of the year Net

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Assume a company provided the following information: Gross margin percentage Sales Inventory balance, beginning of the year Inventory balance, end of the year Net income The inventory turnover is closest to: 40% $ 500,000 $ 20,000 $ 30,000 $ 10,000

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