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Which of the following is the correct formula to calculate the inventory turnover ratio? (Inventories + Net income) 365 + B (Net income Inventories) 365

Which of the following is the correct formula to calculate the inventory turnover ratio? (Inventories + Net income) 365 + B (Net income Inventories) 365 (Inventories + Cost of sales) * 365 (Inventories+ Total assets) * 365 Question 12 Prepaid Insurance would generally be reported on the Statement of Financial Position as a(n): A) Plant asset B) Investment C) Current asset D) Intangible asset 2 Points

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