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Foster & Kelly was founded with the mission of filling every home with music. The company reported the following amounts in its financial statements (
Foster & Kelly was founded with the mission of filling every home with music. The company reported the following amounts in its financial statements in millions:
Net Sales $ $
Cost of Goods Sold
Beginning Inventory
Ending Inventory
Required:
Determine the inventory turnover ratio and average days to sell inventory for and Use days in a year. Round your intermediate and final answers to decimal place.
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