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Inventory Analysis: A company reports the following: Cost of goods sold $262,800 Average inventory 58,400 Determine (a) theinventory turnoverand (b) thenumber of days' sales in

Inventory Analysis:

A company reports the following:

Cost of goods sold $262,800

Average inventory 58,400

Determine (a) theinventory turnoverand (b) thenumber of days' sales in inventory. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume 365 days a year.

a.Inventory turnover:

b.Number of days' sales in inventory:

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