Cost of Goods Sold (Cost of sales) $1,000,000 Beginning Merchandise Inventory Ending Merchandise Inventory 335.000 350,000 Calculate the company's inventory turnover ratio for the year. (Round your answer to two decimal places.) O A. 2.92 times per year O B. 1.46 times per year OC. 2.86 times per year O D. 2.99 times per year

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Anderson Farms, Inc. provided the following for 2018:
Cost of Goods Sold (Cost of sales)
Beginning Merchandise Inventory
Ending Merchandise Inventory
$1,000,000
335,000
350,000
Calculate the company's inventory turnover ratio for the year. (Round your answer to two decimal places.)
O A. 2.92 times per year
O B. 1.46 times per year
O C. 2.86 times per year
O D. 2.99 times per year
Transcribed Image Text:Anderson Farms, Inc. provided the following for 2018: Cost of Goods Sold (Cost of sales) Beginning Merchandise Inventory Ending Merchandise Inventory $1,000,000 335,000 350,000 Calculate the company's inventory turnover ratio for the year. (Round your answer to two decimal places.) O A. 2.92 times per year O B. 1.46 times per year O C. 2.86 times per year O D. 2.99 times per year
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