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Please answer question below The year-end financial statement of Wando's Vineyards reported Net revenues of $19,425,412 and Cost of goods sold of $7,204,884 in year
Please answer question below
The year-end financial statement of Wando's Vineyards reported Net revenues of $19,425,412 and Cost of goods sold of $7,204,884 in year 2. Note 3 to the financial statements reported that Inventories consisted of: Year 2 Year 1 Winemaking and packaging materials $899,620 $759,321 Work-in-process 7,297,415 6,664,571 Finished goods 4,970,687 4,271,816 Total inventories $13,167,722 $11,695,708 The inventory turnover for Year 2 was: Select one: O a. 0.55 O b. 1.56 O c. None of these are correct. O d. 0.58 O e. 0.62Step by Step Solution
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