Chodron Corporation had net credit sales of $13,000,000 and cost of goods sold of $9,250,000 for the year.The average inventory for the year amounted to $1,250,000.The inventory turnover for the year is

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Inventory turnover is calculated as Cost of Goods Sold divided by Average Inventory. For Chodron Corporation, it's $9,250,000 / $1,250,000 = 7.4 times.

Chodron Corporation Had Net Credit Sales of $13,000,000 and Cost