Refer to the following selected financial information from Phantom Corp. Compute the company's inventory turnover for Year 2. Year 2 Year 1 Merchandise inventory271,000 253,500 Cost of goods sold486,400 433,100
A. 1.75.
B. 1.71.
C. 1.79.
D. 0.93.
E. 1.85.
Answer: E
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