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Inventory Turnover The following data (in millions) were taken from recent annual reports of Tomato Computer, Inc., a manufacturer of personal computers and related
Inventory Turnover The following data (in millions) were taken from recent annual reports of Tomato Computer, Inc., a manufacturer of personal computers and related products, and Happy Times Corporation, a manufacturer and distributor of greeting cards and related products: Tomato Happy Times Cost of merchandise sold Inventory, end of year Inventory, beginning of the year $4,653,100 98,000 60,000 $2,132,800 111,000 137,000 a. Determine the inventory turnover for Tomato and Happy Times. Round to one decimal place. Tomato < Happy Times DJ b. Would you expect Happy Times inventory turnover to be higher or lower than Tomato's?
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