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Bob Gibson's has sales for the year of $311,400, cost of goods sold equal to 78 percent of sales, and an average inventory of $42,800.
Bob Gibson's has sales for the year of $311,400, cost of goods sold equal to 78 percent of sales, and an average inventory of $42,800. The profit margin is 6 percent and the tax rate is 35 percent. How many days on average does it take the firm to sell an inventory item?
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