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Early in 2014, Defoor Company switched to a just-in-time inventory system. Its sales and inventory amounts for 2013 and 2014 are shown below. 2013 2014
Early in 2014, Defoor Company switched to a just-in-time inventory system. Its sales and inventory amounts for 2013 and 2014 are shown below.
2013 | 2014 | |||
Sales revenue | $3,226,300 | $3,722,400 | ||
Cost of goods sold | 1,254,600 | 1,530,900 | ||
Beginning inventory | 184,300 | 220,000 | ||
Ending inventory | 220,000 | 93,100 |
1. Determine the inventory turnover for 2013 and 2014. (Round answers to 1 decimal place, e.g. 5.1.) 2. Determine the days in inventory for 2013 and 2014. (Round answers to 1 decimal place, e.g. 5.1.)
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