Use the following to calculate the inventory turnover ratio

Use the following to calculate the inventory turnover ratio for the year 2017.

                                                                  2017                        2016 

Cost of Goods Sold                         585,000                 475,000

Merchandise Inventory                  320,000                 295,000

Hint:  Inventory turnover ratio = Cost of Goods Sold/ [(Beginning merchandise inventory + Ending merchandise inventory)


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