Zebra, Inc. cost of goods sold for the year is $2,300,000, and the average merchandise inventory for the year is $139,000. Calculate the inventory turnover ratio of the company. (Round your answer to two decimal places.)
A) 6.04 times
B) 16.55 times
C) 8.27 times
D) 93.96 times
B .B)
Inventory turnover ratio = Cost of Goods Sold / Average Merchandise Inventory =
$2,300,000 / 139,000 = 16.55 times
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