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Question - The cost of goods sold of Beata Company is $740,000 during the year. The beginning and ending balances of inventory of Beata Company are as follows:
January 1
December 31
Inventories
$110,000
$240,000
Required - Calculate the inventory turnover ratio of Beata Company.
a. 6.05 times
b. 3.75 times
c. 2.10 times
d. 4.23 times
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