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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 products,
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: Cost of merchandise sold Inventory, end of year Inventory, beginning of the year Tomato Happy Times $8,271,500 $729,000 145,000 121,000 88,000 149,000 a. Determine the inventory turnover for Tomato and Happy Times. Round to one decimal place. Tomato Happy Times b. Would you expect Happy Times's inventory turnover to be higher or lower than Tomato's
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