Universal sports supply began the year with an inventory, Ask an Expert

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Universal Sports Supply began the year with an inventory balance of $89,000 and a year-end balance of $55,000. Sales of $690,000 generate a gross profit of $240,000.

Calculate the inventory turnover ratio for the year. (Round your answer to 1 decimal place.)

Inventory turnover ratio times

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91381569

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