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eBook Show Me How Inventory Turnover The following data (in millions) were taken from recent annual reports of Tomato Computer, Inc., a manufacturer of
eBook Show Me How Inventory Turnover The following data (in millions) were taken from recent annual reports of Tomato Computer, Inc., a manufacturer of personal computers and related products, and Happy Times Corporation, a manufacturer and distributor of greeting cards and related products: Cost of merchandise sold Inventory, end of year Inventory, beginning of the year Tomato Happy Times $6,473,600 $469,950 139,000 108,000 85,000 133,000 a. Determine the inventory turnover for Tomato and Happy Times. Round to one decimal place. Tomato < Happy Times b. Would you expect Happy Times inventory turnover to be higher or lower than Tomato's?
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