Medina Enterprises The following selected financial information is available for Medina for the year ended December 31, 2012. Net sales $450,000 Inventory, 1/1/12 $48,400 Cost of goods sold 299,500 Inventory, 12/31/12 49,670 Refer to the information provided for Medina Enterprises. What is the inventory turnover ratio for 2012?
A) 6.188 times
B) 6.030 times
C) 6.108 times
D) 9.177 times
C
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A) less than 15 B) only 25 C) nearly 50 D) less than 5 E) close to 75Answer: B
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Answer the following statement true (T) or false (F)
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