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Hootman Shipping has sales of $950,000 and cost of goods sold of $580,200. At the beginning of the year, the inventory was $62,500. At the
Hootman Shipping has sales of $950,000 and cost of goods sold of $580,200. At the beginning of the year, the inventory was $62,500. At the end of the year, the inventory balance was $60,800. What is the inventory turnover rate? (Assume a 365-day year)
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