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Your firm has sales of $628,000 and cost of goods sold of $402,000. At the beginning of the year, your inventory was $31,000. At the end of the year, the inventory balance was $33,000. What is the inventory turnover rate? Show calculations.

A. 11.23 times

B. 12.56 times

C. 18.60 times

D. 19.63 times

E. 29.06 times

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Accounting Basics, Accounting

Category:- Accounting Basics
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