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Calculate the inventory turnover ratio for the year

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Reference no: EM132069512

Question - Crestwood Department Store had net credit sales of $13,000,000 and cost of goods sold of $10,000,000 for the year. The average inventory for the year amounted to $2,500,000. The inventory turnover ratio for the year is

A. 4 times.

B. 7 times.

C. 3 times.

D. 2 times.

Reference no: EM132069512

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