Question
ProofSmart Inc., a supplier of home insulation materials, was burned down in a recent fire. From the remains of what used to be the accounting
ProofSmart Inc., a supplier of home insulation materials, was burned down in a recent fire. From the remains of what used to be the accounting ledger, the following information was recovered:
- Sales: 29 million dollars
- Inventory: 2.9million dollars
- Gross Margin: 45%
Since the gross margin is 45%, the cost of goods sold is 55% of sales. What is the inventory turn per year?
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Get StartedRecommended Textbook for
Quantitative Analysis For Management
Authors: Barry Render, Ralph M. Stair, Michael E. Hanna
11th Edition
9780132997621, 132149117, 132997622, 978-0132149112
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