IF A COMPANY HAS COST OF GOODS SOLD OF $180,000 AND AVERAGE INVENTORY OF WHAT IS ITS INVENTORY $60,000, TURNOVER RATIO? A) 2.0 B) 3.0 C) 4.0 D) 5.0

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
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Chapter10: Inventory
Section: Chapter Questions
Problem 16EA: Compute Altoona Companys (a) inventory turnover ratio and (b) number of days sales in inventory...
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IF A COMPANY HAS COST OF GOODS SOLD
OF $180,000 AND AVERAGE INVENTORY OF
WHAT IS ITS INVENTORY
$60,000,
TURNOVER RATIO?
A) 2.0
B) 3.0
C) 4.0
D) 5.0
Transcribed Image Text:IF A COMPANY HAS COST OF GOODS SOLD OF $180,000 AND AVERAGE INVENTORY OF WHAT IS ITS INVENTORY $60,000, TURNOVER RATIO? A) 2.0 B) 3.0 C) 4.0 D) 5.0
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