Elephant, Inc.'s cost of goods sold for the year is $2,800,000, and the average merchandise inventory for
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Question:
Elephant, Inc.'s cost of goods sold for the year is $2,800,000, and the average merchandise inventory for the year is $134,000. Calculate the inventory turnover ratio of the company.
A. 9.52 times
B. 20.9 times
C. 4.79 times
D. 10.45 times
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