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Please answer ASAP Universal Sports Supply began the year with an inventory balance of $88,000 and a year-end balance of $52,000. Sales of $480,000 generate

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Universal Sports Supply began the year with an inventory balance of $88,000 and a year-end balance of $52,000. Sales of $480,000 generate a gross profit of $160,000. Calculate the inventory turnover ratio for the year

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