Answer | |||||
Cost of Goods Sold/(Merchandise Inventory Y2 + Y1)/2 = | Inventory Turnover | ||||
Cost of Goods Sold | $486,400.00 | ||||
Average Inventory | $262,250.00 | (271000+253500)/2 | |||
Inventory Turnover | 1.85 | (486400)/(262500) | |||
Answer | 1.85 | (OPTION 3) | |||
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