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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 (in
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 2018 $ 5,600 2017 $ 5,660 4,500 540 630 4,400 460 540 Required: 1. Determine the inventory turnover ratio and average days to sell inventory for 2018 and 2017. (Use 365 days in a year. Round your intermediate and final answers to 1 decimal place.) 2018 2017 Inventory Turnover Ratio Days to Sell times per year times per year days days
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