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For most recent of the year Johns Shoe Store has sales of $930,000 and cost of goods sold of $625,000. At the beginning of the
For most recent of the year Johns Shoe Store has sales of $930,000 and cost of goods sold of $625,000. At the beginning of the year the company had accounts receivable of $110,000 and its inventory was $230,000. At the end of the year accounts receivable and investments were $86,000 and $170,000 respectively. How long in days does the company on average hold an item of inventory?
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