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Question: The grocery industry has an annual inventory turnover of about 16 times. Organic Grocers. Inc, had a cost of goods sold last year of $11, 040,000; its average inventory was $1, 015.270. What was Organic Grocers' inventory turnover. and how does that performance compare with that of the industry?

a) What was Organic Grocers' inventory turnover? times per year.

b) How does Organic Grocers' performance compare with that of the industry? It is the industry.

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