Sales are ($ 500,000), and cost of goods sold is ($ 300,000). Beginning and ending inventories are

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Sales are $\$ 500,000$, and cost of goods sold is $\$ 300,000$. Beginning and ending inventories are $\$ 25,000$ and $\$ 35,000$, respectively. How many times did the company turn its inventory over during this period?

a. 16.7 times

b. 6.7 times

c. 8 times

d. 10 times

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Financial Accounting

ISBN: 9780135433065

7th Canadian Edition

Authors: Walter Harrison, Wendy Tietz, C. Thomas, Greg Berberich, Catherine Seguin

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Question Posted: May 10, 2024 04:02 AM

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Sales are ($ 500,000), and cost of goods sold is ($ 300,000). Beginning and ending inventories are

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Financial Accounting

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