Homework - Chapter 12 - Spiceland Brief Exercise 12-7 Calculate inventory turnover (LO12-3) 5 Universal Sports Supply began the year with an inventory balance of $79,000 and a year-end balance of $61,000. Sales of $615,000 generate a gross profit of $205,000. Calculate the inventory turnover ratio for the year, (Round your final answer to 1 decimal place.) 0.71 point 02:49:40 Inventory Turnover Ratio times Universal Sports Supply ebook AL Print Halerens