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If a firm's inventory level of $20,000 represents 45 days' sales, what is the annual cost of goods sold? Answers: A. 151,285 B. 162,222 C.

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If a firm's inventory level of $20,000 represents 45 days' sales, what is the annual cost of goods sold? Answers: A. 151,285 B. 162,222 C. 113,236 D. 218,266 ABC has accounts receivable of $18,000. Sales for the year were $87,800. What is its average collection period? Answers: A. 85 B. 75 C. 36 D. 66

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