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Cloche's Hats had sales for the year of $656,800 and cost of goods sold equal to 71 percent of sales. The inventory at the beginning
Cloche's Hats had sales for the year of $656,800 and cost of goods sold equal to 71 percent of sales. The inventory at the beginning of the year was $115,000 and the end-of-year inventory was $129,300. What was the company's inventory period in days? Assume 365 days in a year.
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