Question: Using the following data, compute inventory turnover: Inventory, December 31, 2015 $ 82,000 Operating Expenses $256,000 Cost of Goods Sold 342,000 Cash 49,000 Net Sales

Using the following data, compute inventory turnover:

Inventory, December 31, 2015 $ 82,000 Operating Expenses $256,000

Cost of Goods Sold 342,000 Cash 49,000

Net Sales 694,000 Inventory, December 31, 2014 74,000

Determine the Inventory Turnover Ratio:

A.

4.17
B.

4.38
C.

2.28
D.

2.14
E.

2.19

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