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I would like help to understand how to solve this problem. Thank you in advance. Suppose at December 31 of a recent year, the following
I would like help to understand how to solve this problem. Thank you in advance.
Suppose at December 31 of a recent year, the following information (in thousands) was available for sunglasses manufacturer Oakley, Inc.: ending inventory $192,200, beginning inventory $148,800, cost of goods sold $448,415, and sales revenue $972,800. Calculate the inventory turnover and days in inventory for Oakley, Inc. (Round inventory turnover to 2 decimal places, e.g. 15.25 and days in inventory to 0 decimal places, e.g. 15. Use 365 days for calculation.) Inventory turnover times Days in inventory daysStep by Step Solution
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