Cost of goods sold for Century Merchandise Mart was $874,510 for the year. If the beginning inventory at cost was $561,900 and the ending inventory at cost was $302,300, find the inventory turnover at cost. (Round your answer to the nearest tenth)

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Inventory turnover at cost = Cost of goods sold / Average inventoryAverage inventory = (Beginning inventory + Ending inventory) / 2= ($561,900 + $302,300) / 2= $432,100Inventory turnover at cost = $874,510 / $432,100= 2.0 times

Cost of Goods Sold for Century Merchandise Mart Was $874,510