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(b1) Early in 2017, Chien Company switched to a just-in-time inventory system. Its sales revenue, cost of goods sold, and inventory amounts for 2016 and

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(b1) Early in 2017, Chien Company switched to a just-in-time inventory system. Its sales revenue, cost of goods sold, and inventory amounts for 2016 and 2017 are shown below. 2016 2017 Sales revenue Cost of goods sold 1,219,500 Beginning inventory178,500 Ending inventory $3,113,000 $3,741,500 1,444,000 225,000 95,500 225,000 Determine the inventory turnover for 2016 and 2017. (Round answers to 1 decimal place, e.g. 1.5.) 2016 2017 Inventory turnover By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor

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