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Consider the following financial data from the past year for a company (all figures are in millions of dollars): gross income: 29.8 total sales: 25.9
Consider the following financial data from the past year for a company (all figures are in millions of dollars):
gross income: 29.8
total sales: 25.9
total credit sales: 18.8
net income: 3.8
cost of goods sold: 11.6
total assest: 10.8
average inventory: 4.7
average receivables: 6.9
Compute the inventory turnover ratio.
(Provide 3 decimal values)
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