Inventory turnover is calculated by dividing (Points: 4) cost of goods sold by the ending inventory. cost of goods sold by the beginning inventory. cost of goods sold by the average inventory. average inventory by cost of goods sold.

1. Inventory turnover is calculated by dividing

•  cost of goods sold by the ending inventory.
• cost of goods sold by the beginning inventory.
• cost of goods sold by the average inventory.
• average inventory by cost of goods sold.

Answer
cost of goods sold by the average inventory.