(Answered) Question - lets assume company xyz reported the following

Accounting

Question - Let's assume Company XYZ reported the following information:

Revenue Cost of Goods Sold Inventory

Last Year $1,000,000 $500,000 $95,000

This Year $1,500,000 $600,000 $100,000

Using the mentioned information above, calculate Company XYZ's inventory turnover ratio for this year.

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