Question
Universal Sports Supply began the year with an inventory balance of $74,000 and a year-end balance of $66,000. Sales of $690,000 generate a gross profit
Universal Sports Supply began the year with an inventory balance of $74,000 and a year-end balance of $66,000. Sales of $690,000 generate a gross profit of $230,000 Calculate the inventory turnover ratio for the year (Round your final answer to 1 decimal place.) Universal Sports Supply Inventory Turnover Ratio times
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Financial Accounting
Authors: Jeffrey Waybright, Robert Kemp
1st Edition
013606048X, 9780136060482
