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Inventory Turnover and Days' Sales in Inventory Shown below are data from the Southern Corporation's accounting records: Year 1 Year 2 Sales Revenue 2 1

Inventory Turnover and Days' Sales in Inventory
Shown below are data from the Southern Corporation's accounting records:
Year 1 Year 2 Sales Revenue 21,000,00023,000,000 Cost of goods sold 11,000,00011,900,000 Beginning inventory 5,500,0005,530,000 Ending inventory 5,530,0005,600,000
Calculate the company's (a) inventory turnover and (b) days' sales in inventory for both years.
Round your answers to two decimal points. HINT: Use your rounded answers for inventory turnover to calculate days' sales in inventory.
Year 1 Year 2 Inventory turnover Days' sales in inventory

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