Calculate the inventory turnover ratio for the year

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Reference no: EM13776880

Universal Sports Supply began the year with an inventory balance of $80,000 and a year-end balance of $52,000. Sales of $640,000 generate a gross profit of $220,000.

Calculate the inventory turnover ratio for the year. (Round your answer to 1 decimal place.)

Inventory turnover ratio = ______ times

Reference no: EM13776880

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