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Widner industries reports annual sales of $160 million, cost of goods sold of $120 million inventory of $20 million, and net income of $5 million. What are its annual inventory turns? 6 32 24 8
Expert Answer
2.
Correct Answer:
A. 6
Working note:
Annual inventory turnover = cost of goods sold / average inventory = 120/20
Annual inventory turnover = 6 times
