INVENTORY TURNOVER. A recent annual report for The Limited shows cost of goods sold for the year

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INVENTORY TURNOVER. A recent annual report for The Limited shows cost of goods sold for the year of approximately $5,286 million and average inventory of approximately $769 million during the year.

REQUIRED:

1. Calculate The Limited’s inventory turnover.

2. Assuming a 365-day year, how many days, on average, does merchandise spend in inventory before it is sold? lol

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Financial Accounting

ISBN: 9780070213555

5th Edition

Authors: Robert K. Eskew, Daniel L. Jensen

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Question Posted: Jun 14, 2024 01:21 AM

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INVENTORY TURNOVER. A recent annual report for The Limited shows cost of goods sold for the year

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Financial Accounting

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