Question

Maryland Industries’ sales for the year ended March 31, 2012, were $1,315,000 and cost of goods sold amounted to $736,000. Beginning inventory was $56,000 and ending inventory was $72,000.

Compute Maryland Industries’ rate of inventory turnover for the year ended March 31, 2012. Round answer to the nearest tenth.



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  • CreatedApril 29, 2014
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