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Earths Best Company has sales of $300,000, Cost of Goods Sold of 225,000, a net income of $15,000, and the following balance sheet: Cash $

Earths Best Company has sales of $300,000, Cost of Goods Sold of 225,000, a net income of $15,000, and the following balance sheet:

Cash $ 10,000 Accounts payable $ 30,000

Receivables 50,000 Other current liabilities 20,000

Inventories 150,000 Long-term debt 50,000

Net fixed assets 90,000 Common equity 200,000

Total assets $300,000 Total liabilities and equity $300,000

Calculate the firms Inventory Turnover.

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