A national firm has sales of $729,000 and cost of goods sold of $478,000.At the beginning of the year,the inventory was $37,000.At the end of the year,the inventory balance was $41,000.What is the inventory turnover rate?
A) 12.26 times
B) 12.78 times
C) 14.22 times
D) 18.56 times
E) 19.70 times
Correct Answer:
Verified
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