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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: 28 million dollars
  • Inventory: 2.7 million 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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