9.29 The following are extracts from the income statements of a sole trader business for the years...

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9.29 The following are extracts from the income statements of a sole trader business for the years ending 31 December 2012 and 2011:

2012 2011

£000 £000 Opening inventory 1 605.3 1 396.4 Purchases 19 360.4 19 568.9 Closing inventory (1 565.7) (1 605.3)

Cost of sales 19 400.0 19 360.0 Calculate the inventory turnover in days for both years. Has it improved or worsened in 2012?

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