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Perez Corporation has the following financial data for the years 20X1 and 20X2 20x1 $ 5,335,800 3,880,000 485,000 Sales Cost of goods sold Inventory $

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Perez Corporation has the following financial data for the years 20X1 and 20X2 20x1 $ 5,335,800 3,880,000 485,000 Sales Cost of goods sold Inventory $ 20x2 5,720, 880 4,420,000 520,000 a. Compute the inventory turnover for each year using the formula Sales/Inventory (Round your answers to 2 decimal places.) Inventory Turnover Ratio 20X1 20X2 times b. Compute inventory turnover based on an alternative calculation that is used by many financial analysts, Cost of goods sold/Inventory, for each year. (Round your answers to 2 decimal places.) Inventory Turnover Ratio 20X1 times 20X2 times

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