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During the year just ended, the retailer James Corporation purchased $438,000 of inventory. The inventory balance at the beginning of the year was $192,000. If
During the year just ended, the retailer James Corporation purchased $438,000 of inventory. The inventory balance at the beginning of the year was $192,000. If the cost of goods sold for the year was $463,000, then the inventory turnover for the year was: Multiple Choice O 2.77 O 2.58 2.41 O O 2.44 Natcher Corporation's accounts receivable at the end of Year 2 was $143,000 and its accounts receivable at the end of Year 1 was $151,000. The company's inventory at the end of Year 2 was $147,000 and its inventory at the end of Year 1 was $139,000. Sales, all on account, amounted to $1,400,000 in Year 2. Cost of goods sold amounted to $819,000 in Year 2. The company's operating cycle for Year 2 is closest to: (Round your intermediate calculations to 1 decimal place.) Multiple Choice 102.4 days 69.7 days 47.9 days 73.5 days
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