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What are the inventory turnover ratio and the gross margin

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Reference no: EM132540367

Kent Inc. provided the following data for 2016 and 2017:

Inventory

December 31, 2016            $250,000

December 31, 2017             180,000

Cost of goods sold

2016                  $650,000

2017                  645,000

Gross margin

2016                $340,000

2017                 430,000

Question 1: What are the inventory turnover ratio and the gross margin return on inventory investment for 2017?

Reference no: EM132540367

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