Moore Co. has a beginning inventory at a cost of $50,000 and an ending inventory at a cost of $90,000. Sales were $150,000. Assume Moore's markup rate is 40%. Based on the selling price, what is the inventory turnover at cost? (Round to the nearest hundredth.)
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The Answer of Moore Co. has a beginning inventory at a cost of $50,000 and an ending inventory at a cost of $90,000. Sales were $150,000. Assume Moore's markup rate is 40%. Based on the selling price, what is the inventory turnover at cost? (Round to the nearest hundredth.)
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Moore Co Has a Beginning Inventory at a Cost of $50,000