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Brief Exercise 12-7 Calculate inventory turnover (LO12-3) Universal Sports Supply began the year with an inventory balance of $71,000 and a year-end balance of $69,000.
Brief Exercise 12-7 Calculate inventory turnover (LO12-3) Universal Sports Supply began the year with an inventory balance of $71,000 and a year-end balance of $69,000. Sales of $735,000 generate a gross profit of $245,000. Calculate the inventory turnover ratio for the year. (Round your final answer to 1 decimal place.) Inventory Turnover Ratio Universal Sports Supply
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