Multiple Choice
A store that sells books, magazines, and newspapers has an average inventory of $15,000 at cost. Its cost of goods for the previous year was $62,000, and its net profit was $9,000. Calculate the retailer's inventory turnover.
A) 1.67
B) 2.14
C) 6.89
D) 4.13
E) 14.5
Correct Answer:
Verified
Correct Answer:
Verified
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