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Financial Accounting MCQs

What is the formula for Inventory Turnover Ratio?

Sales/((Beginning Inventories + Ending Inventories)/2))

Average Accounts Receivable/Inventories

Net Income/((Beginning Inventories + Ending Inventories)/2))

Cost of goods sold/((Beginning Inventories + Ending Inventories)/2))

Answer

Correct Answer: Cost of goods sold/((Beginning Inventories + Ending Inventories)/2))

Explanation:

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