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he following information is available for Barbaras Beverages Company, Inc. for the most recent three years: (in millions) 2018 2019 2020 Inventory $1,664 $1,828 $2,080
he following information is available for Barbaras Beverages Company, Inc. for the most recent three years:
(in millions) | 2018 | 2019 | 2020 | |||
Inventory | $1,664 | $1,828 | $2,080 | |||
Cost of goods sold | 10,990 | 14,182 | 17,629 | |||
Sales | 31,602 | 35,167 | 37,948 |
Merchandise inventory at the end of 2017 was $1,525. (a) Calculate the inventory turnover ratio, days in inventory, and gross margin for 2018, 2019, and 2020. (Round inventory turnover ratio and days in inventory to 1 decimal place, e.g. 15.5. Use 365 days for calculation.)
2018 2019 2020 Inventory turnover ratio Days in inventory Gross margin times times times days tlayi; daysStep by Step Solution
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