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Early in 2022, Blue Spruce Company switched to a just-in-time inventory system. Its sales revenue, cost of goods sold, and inventory amounts for 2021 and
Early in 2022, Blue Spruce Company switched to a just-in-time inventory system. Its sales revenue, cost of goods sold, and inventory amounts for 2021 and 2022 are shown below. 2021 2022 Sales revenue $3,124,000 $3,740,500 Cost of goods sold 1,221,525 1,446,700 Beginning inventory 178,000 222,500 Ending inventory 222,500 92,000 (b1) Your answer is correct. Determine the inventory turnover for 2021 and 2022. (Round answers to 1 decimal place, e.g. 1.5.) Inventory turnover (b2) eTextbook and Media 2021 6.1 2022 9.2 Attempts: 1 of 5 used Determine days in inventory for 2021 and 2022. (Round answers to 1 decimal places, eg. 15.1. Use 365 days for calculation.) Days in inventory 2021 'days 2022 days
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