Elephant, Inc.'s cost of goods sold for the year is $2,800,000, and the average merchandise inventory for

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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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Financial ACCT2

ISBN: 978-1111530761

2nd edition

Authors: Norman H. Godwin, C. Wayne Alderman

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Posted Date: Jul 02, 2022 03:39 AM

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Elephant, Inc.'s cost of goods sold for the year is $2,800,000, and the average merchandise inventory for

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Financial ACCT2

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