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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.) Inventory Turnover Ratio Universal Sports Supply times
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Financial Accounting
Authors: Carl Warren, James M. Reeve, Philip E. Fess
8th Edition
0324025394, 978-0324025392
