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Previous Page Next Page Page 7 of 43 Question 7 (2.5 points) For 2016, Potter Company reported sales of $3,600,000, cost of goods sold of
Previous Page Next Page Page 7 of 43 Question 7 (2.5 points) For 2016, Potter Company reported sales of $3,600,000, cost of goods sold of $2,000,000, and a gross profit of $1,600,000. Potter's inventory at January 1, 2016 was $580,000; the inventory at December 31, 2016 was $620,000. Potter's 2016 inventory turnover is: 3.44 3.33 2.08 3.22 Previous Page Next Page Page 7 of 43
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