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Question - Alpha Company has the following account balances information for fiscal year 2015 & 2016 (all balances are normal):
Alpha Company
December 31
Accounts
2016
2015
Merchandise Inventory
$1,200,000
$800,000
Office Supplies
25,000
20,000
Sales
3,000,000
2,500,000
Cost of goods Sold
2,000,000
1,600,000
Freight Out
15,000
10,000
What is the FY 2016 inventory turnover ratio? Enter the answer as a number rounded to one decimal place followed by a space and the word times.
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