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A company has an average inventory balance of $20m along with $100m in cost of goods sold (COGS) in the latest fiscal year. If projecting

A company has an average inventory balance of $20m along with $100m in cost of goods sold (COGS) in the latest fiscal year. If projecting inventory using inventory turnover, what would the average inventory balance approximately be if COGS is $110m in the next forecasted period?

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