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Purrfect Pet Shop takes inventory semi-annually and bases inventory on cost. Beginning inventory for the year was $67,320. Inventory at the end of the first
Purrfect Pet Shop takes inventory semi-annually and bases inventory on cost. Beginning inventory for the year was $67,320. Inventory at the end of the first six months was $79,680. Ending inventory for the year was $82,500. Cost of Goods for the year equal $183,750. Compute the inventory turnover at cost. Please show your work.
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