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A company reports the following: Cost of merchandise sold $2,496,600 146,000 Average merchandise inventory Determine (a) the inventory turnover and (b) the number of days'
A company reports the following: Cost of merchandise sold $2,496,600 146,000 Average merchandise inventory Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Assume a 365-day year. Round your answers to one decimal place. a. Inventory turnover b. Number of days' sales in inventory days
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