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Danube.com reported the following amounts in its financial statements (in millions): 1. Determine the inventory turnover ratio and average days to sell inventory for 2012
Danube.com reported the following amounts in its financial statements (in millions): 1. Determine the inventory turnover ratio and average days to sell inventory for 2012 and 2011. (Use 365 days in a year. Round your intermediate and final answers to 1 decimal place.) |
2012 | 2011 | |||||
Net Sales | $ | 69,000 | $ | 56,000 | ||
Cost of Goods Sold | 54,000 | 46,000 | ||||
Beginning Inventory | 6,600 | 4,100 | ||||
Ending Inventory | 6,800 | 6,600 |
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