Kopas Corporation Has Provided the Following Data The Inventory Turnover for This Year Is Closest To:
A)

Kopas Corporation has provided the following data:
$\begin{array}{lrr}&\text { This Year}&\text { Last Year }\\\text { Accounts receivable ....... } & \$ 89,000 & \$ 107,000 \\\text { Inventory .................... } & \$ 160,000 & \$ 156,000 \\\text { Sales on account .......... } & \$ 627,000 & \\\text { Cost of goods sold.......... } & \$ 488,000 &\end{array}$ The inventory turnover for this year is closest to:

A) 3.09
B) 0.98
C) 1.03
D) 3.05

Correct Answer:

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