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From the following hypothetical data for Riffa Co, in 2018 and 2019 to project revenues, cost of goods sold, and inventory for Year +1. Assume
From the following hypothetical data for Riffa Co, in 2018 and 2019 to project revenues, cost of goods sold, and inventory for Year +1. Assume that Riffa's Year +1 revenue growth rate, gross profit margin growh rate, and inventory fumover will be identical to 2019 Project the average inventory balance in Year +1 and use it to compute the implied ending inventory balance. Required: Calculate the followings for Riffa Co. (consider 3 decimal places) 1. Sales Revenue and Growth Rate for Y+1 year. 2. Inventory Turnover for 2019. 3. Forecasted Gross Profit for Y+1. 4. Projected Average Inventory Balance in Year +1 5. Projected Ending Inventory for Year +1
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