Question: Mamoon Company begins the year with 200 000 of goods in
Mamoon Company begins the year with $200,000 of goods in inventory. At year-end, the amount in inventory has increased to $230,000. Cost of goods sold for the year is $1,600,000. Calculate Mamoon’s inventory turnover (round calculations to two decimal places). Assuming an industry average merchandise turnover of 4, what is your assessment of Mamoon’s inventory management?
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