Question
During the year just ended, the retailer James Corporation purchased $450,000 of inventory. The inventory balance at the beginning of the year was $201,000. If
During the year just ended, the retailer James Corporation purchased $450,000 of inventory. The inventory balance at the beginning of the year was $201,000. If the cost of goods sold for the year was $474,000, then the inventory turnover for the year was:
Multiple Choice
2.38
2.68
2.36
2.51
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The Internal Auditing Handbook
Authors: K. H. Spencer Pickett
3rd Edition
0470518715, 978-0470518717
