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Inventory turnover is calculated as under: (a) Cost of Goods sold/Closing Inventory (b) Gross profit/Closing Inventory (c) Sales/Opening Inventory (d) None of these

Inventory turnover is calculated as under:

(a) Cost of Goods sold/Closing Inventory

(b) Gross profit/Closing Inventory

(c) Sales/Opening Inventory

(d) None of these

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