Thompson Laser Company had ending inventory of $163,600 this year, ending inventory of $134,000 last year, and $262,000 as cost of goods sold. Compute the inventory turnover rate.

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The Answer of Thompson Laser Company had ending inventory of $163,600 this year, ending inventory of $134,000 last year, and $262,000 as cost of goods sold. Compute the inventory turnover rate.

Thompson Laser Company Had Ending Inventory of $163,600 This Year