Elephant,Inc.'s cost of goods sold for the year is $1,900,000,and the average merchandise inventory for the year is $132,000.Calculate the inventory turnover ratio of the company.(Round your answer to two decimal places.)
A) 6.95 times
B) 14.39 times
C) 7.20 times
D) 9.31 times
Correct Answer:
Verified
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