Waters department store had net credit sales of 16000000, Ask an Expert

Accounting

Waters Department Store had net credit sales of $16,000,000 and cost of goods sold of $12,000,000 for the year. The average inventory for the year amounted to $2,000,000. Inventory turnover for the year is:

a. 8 times.

b. 14 times.

c. 6 times.

d. 4 times.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M947955

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