Question: Brief Exercise 1 2 - 7 ( Algo ) Calculate inv ntory turnover ( LO 1 2 - 3 ) Universal Sports Supply began the

Brief Exercise 12-7(Algo) Calculate invntory turnover (LO12-3) Universal Sports Supply began
Brief Exercise 12-7(Algo) Calculate invntory turnover (LO12-3)
Universal Sports Supply began the year with an inventory balance of $71,000 and a year-end balance of $69,000. Sales of $735,000 generate a gross profit of $245,000.
Calculate the inventory turnover ratio for the year.
\table[[Inventory Turnover Ratio,,,],[Numerator/Denominator,Amounts,,],[Universal Sports Supply,=,,0 times],[,,,]]
the year with an inventory balance of $71,000 and a year-end balance

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