A company reports the following: Cost of goods sold $510,000 Average inventory 60,000 Determine (a) The inventory

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A company reports the following:

Cost of goods sold $510,000
Average inventory 60,000

Determine
(a) The inventory turnover and
(b) The number of days’ sales in inventory. Round to one decimal place

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Accounting

ISBN: 978-0324662962

23rd Edition

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

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Question Posted: Aug 29, 2011 06:51 PM

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A company reports the following: Cost of goods sold $510,000 Average inventory 60,000 Determine (a) The inventory

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