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A company reports the following: Cost of merchandise sold $3,602,550 Average merchandise inventory 255,500 Determine (a) the inventory tumover and (b) the number of days'
A company reports the following: Cost of merchandise sold $3,602,550 Average merchandise inventory 255,500 Determine (a) the inventory tumover and (b) the number of days' sales in inventory. Assume a 365-day year. Round your answers to one decima place a. Inventory turnover b. Number of days' sales in inventory days
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