For 2019, Nadi Company reported sales of $2,700,000, cost of goods sold of $2,000,000, and a gross profit of $900,000. Nadi's inventory at January 1, 2016 was $510,000; the inventory at December 31, 2019 was $750,000.
Nadi's 2019 inventory turnover is:
A) 7.99
B) 4.74
C) 3.17
D) 2.31
Correct Answer:
Verified
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