Question
Hermanson Company had cost of goods sold of $2,000,000 last year. The companys beginning inventory balance was $310,000 and the ending inventory balance was $490,000.
Hermanson Company had cost of goods sold of $2,000,000 last year. The companys beginning inventory balance was $310,000 and the ending inventory balance was $490,000. The companys inventory turnover was closest to
A: 1.6 times B: 4.1 times C: 5.0 times D: 6.5 times
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Contemporary Auditing
Authors: Michael C. Knapp
9th Edition
1133731244, 9781133731245
