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Thomas Company Provided the Following Particulars for Year 2015 -Refer to the Table Above

Question 137

Multiple Choice

Thomas Company provided the following particulars for year 2015:  Cost of Goods Sold (Cost of sales)  $1,800,000 Beginning Merchandise Inventory 325,000 Ending Merchandise Inventory 650,000\begin{array} { | l | r | } \hline \text { Cost of Goods Sold (Cost of sales) } & \$ 1,800,000 \\\hline \text { Beginning Merchandise Inventory } & 325,000 \\\hline \text { Ending Merchandise Inventory } & 650,000 \\\hline\end{array}
-Refer to the table above.Calculate Thomas's inventory turnover ratio for the year. (Round your answer to two decimal places.)


A) 5.53 times per year
B) 3.69 times per year
C) 2.76 times per year
D) 1.85 times per year

Correct Answer:

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