Inventory Ratio Calculations
Delroi, Inc. provided the following data for 2008 and 2009:
Inventory
December 31, 2007 $201,000
December 31, 2008 191,100
December 31, 2009 182,600
Cost of goods sold
2008 $632,000
2009 731,000
Gross margin
2008 $320,000
2009 440,000
Calculate the inventory turnover ratio for 2008 and 2009.
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