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Endor Company begins the year with $60,000 of goods In Inventory. At year-end, the amount In Inventory has increased to $80,000. Cost of goods sold
Endor Company begins the year with $60,000 of goods In Inventory. At year-end, the amount In Inventory has increased to $80,000. Cost of goods sold for the year is $1,000,000. Compute Endor's Inventory turnover and days' sales In Inventory. Assume that there are 365 days in the year. Choose Numerator: Inventory Turnover Choose Denominator: = Inventory Turnover Inventory Turnover times Days' Sales in Inventory Choose Denominator: X Days = Days' Sales in Inventory x 365 = Days' sales in inventory iL x 365 = Choose Numerator: days
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