Question: Student A is analyzing the sales and inventory data for Company Omega. Given the following information: Beginning Inventory: $50,000 Purchases: $200,000 Sales Revenue: $300,000 Ending

Student A is analyzing the sales and inventory data for Company Omega. Given the following information:

  • Beginning Inventory: $50,000
  • Purchases: $200,000
  • Sales Revenue: $300,000
  • Ending Inventory: $70,000 Calculate the Cost of Goods Sold, Gross Profit, and Inventory Turnover Ratio for Company Omega.

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