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Below is a selection of information concerning Arc Inc
Below is a selection of information concerning Arc Inc.
- Net income for the year: $100,000
- Gross profit ratio: 40%
- Return on Sales: 16%
- Inventory turnover: 2.5
What is the company's average inventory?
Select one:
a. It cannot be calculated with the information provided
b. $150,000
c. $250,000
d. $375,000
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