Question: Selected financial statement data from Western Colorado Stores is shown below. (Round your answers to 2 decimal places.) 2016 2015 Net sales 855000 875000 Cost

Selected financial statement data from Western Colorado Stores is shown below. (Round your answers to 2 decimal places.)

2016 2015
Net sales 855000 875000
Cost of goods sold 684000 704000
Operating Expenses 125000 105000
Inventory 130000 110000

Compute the inventory turnover ratio for 2016:

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