Using the following data, compute inventory turnover. Inventory, December 31, year 1 . . . . .
Question:
Using the following data, compute inventory turnover.
Inventory, December 31, year 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 75,000
Cost of goods sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 300,000
Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 705,000
Inventory, January 1, year 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65,000
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Related Book For 
Accounting concepts and applications
ISBN: 978-0538745482
11th Edition
Authors: Albrecht Stice, Stice Swain
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