Resale Sports had inventory of $8,000 on Jan 1,20X3,and $12,000 on Dec 31,20X3.Sales for 20X3 were $250,000 and the company's gross profit percentage was 35%.What was the inventory turnover for Resale Sports for 20X3?
A) 7) 29 times
B) 8) 75 times
C) 13.54 times
D) 16.25 times
E) 25.00 times
Correct Answer:
Verified
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