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Inventory turnover rate

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PMT Incorporated 2008 financial statements showed the following:

Sales Revenue: $1,500,000
Cost of Goods sold: $1,100,000
Beginning Inventory: $150,000
Ending Inventory: $130,000

What was the company's inventory turnover rate for 2008? Please describe your answer.

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Inventory turnover rate is how fast the inventory is being sold. It is calculated ...

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The solution explains how to calculate inventory turnover rate