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Net sales are $80,000, cost of goods sold is $32,000, net income is $35,000, inventory is $14,000 at the beginning of the year, and inventory
Net sales are $80,000, cost of goods sold is $32,000, net income is $35,000, inventory is $14,000 at the beginning of the year, and inventory is $18,000 at the end of the year. Calculate the inventory turnover ratio. (Round your answer to one decimal place)
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