Use the following to calculate the inventory turnover ratio for the year 2017. 2017 2016 Cost of

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Use the following to calculate the inventory turnover ratio for the year 2017.

2017 2016

Cost of Goods Sold 585,000 475,000

Merchandise Inventory 320,000 295,000

Hint: Inventory turnover ratio = Cost of Goods Sold/ [(Beginning merchandise inventory + Ending merchandise inventory)

Related Book For answer-question

Management and Cost Accounting

ISBN: 978-1292063461

6th edition

Authors: Alnoor Bhimani, Charles T. Horngren, Srikant M. Datar, Madhav V. Rajan

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Posted Date: Oct 04, 2019 05:25 PM

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Use the following to calculate the inventory turnover ratio for the year 2017. 2017 2016 Cost of

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Management and Cost Accounting

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