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What inventory turnover ratio and the gross margin return

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Reference no: EM132515623

Kent Inc. provided the following data for 2016 and 2017:

                                        December 31, 2016                        December 31, 2017

Inventory                    $250,000                                         180,000

Cost of goods sold          $650,000                                          645,000

Gross margin                     $340,000                                         430,000

Question 1: What are the inventory turnover ratio and the gross margin return on inventory investment for 2017?

Reference no: EM132515623

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