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Lost Shoe Company, a retailer, had cost of goods sold of $220,000 last year. The beginning inventory balance was $30,000 and the ending inventory balance

Lost Shoe Company, a retailer, had cost of goods sold of $220,000 last year. The beginning inventory balance was $30,000 and the ending inventory balance was $21,000. The company's inventory turnover ratio was closest to

a.

7.33.

b.

8.63.

c.

10.48.

d.

4.31.

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