Cost of goods sold for Eastern Distributors was $2,225,000 for the year. If the beginning inventory at cost was $750,225 and the ending inventory at cost was $625,995, find the inventory turnover at cost. (Round your answer to the nearest tenth)
A) 2.2 Times
B) 2.9 Times
C) 3.2 Times
D) 2.3 Times
Correct Answer:
Verified
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