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What is the company inventory turnover ratio

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Reference no: EM133068067

Question - The following company information is available:

Average accounts receivable $800,000

Average inventories 120,000

Average accounts payable 110,000

Net sales 6,000,000

Cost of goods sold 1,600,000

Purchases 1,140,000

Required - What is the company's inventory turnover ratio?

Reference no: EM133068067

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