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6. Simpson Products Inc. recently reported earnings before interest and taxes, EBIT, of $359 million; cost of goods sold of $98 million; selling, general &
6. Simpson Products Inc. recently reported earnings before interest and taxes, EBIT, of $359 million; cost of goods sold of $98 million; selling, general & administrative expense of $30 million; and depreciation expense of $33 million. Simpson also reported $85 million of inventory on its recent balance sheet. What is the inventory turnover ratio for Simpson?
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