Question: Below is select data from Arthur Corp.'s income statement and balance sheet for 20X2. Description For the year ending 12/31/20X2 Net sales $500,000 Cost of

Below is select data from Arthur Corp.'s income statement and balance sheet for 20X2. Description For the year ending 12/31/20X2 Net sales $500,000 Cost of goods sold 200,000 Operating Expenses 100,000 Description at 12/31/X2 at 12/31/X1 Inventory $20,000 $16,000

Required: Using the above information, answer the following questions:

Question : On average, how many times did the company's inventory turnover in 20X2

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