Question: What is its average inventory? Lid On It hat shop has an inventory turn ratio of 6.2, $1.55 million in annual sales, and $620,000 cost

What is its average inventory?

Lid On It hat shop has an inventory turn ratio of 6.2, $1.55 million in annual sales, and $620,000 cost of goods sold for the same annual period. What is its average inventory? a. $62,000 b. $100,000 c. $250,000

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