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Barry's Bargains has an annual inventory turnover ratio of 12. This means that the firm __________. sold its average inventory 12 times during the year

Barry's Bargains has an annual inventory turnover ratio of 12. This means that the firm __________.

sold its average inventory 12 times during the year

earned 12 cents in profit for each dollar of sales

had gross sales of 12 times its average inventory

earned 12 cents in profit for each dollar of average inventory

physically counted its inventory 12 times during the year

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