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    Question

    When Sales are 360000, and GP ratio is 50% and the

    average inventory is 90000, what is the inventory turnover ratio?
    A 2 Correct Answer Incorrect Answer
    B 0.5 Correct Answer Incorrect Answer
    C 4 Correct Answer Incorrect Answer
    D 2.5 Correct Answer Incorrect Answer
    E 3 Correct Answer Incorrect Answer

    Solution

    Inventory Turnover Ratio is COGS/ Average Inventory = 180000/90000 = 2.

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