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Question 2: The following is information for Gallifrey Co. Cost of goods sold Ending inventory Year 1 $366,300 94,000 Year 2 $401,650 89,250 Year 3
Question 2: The following is information for Gallifrey Co. Cost of goods sold Ending inventory Year 1 $366,300 94,000 Year 2 $401,650 89,250 Year 3 $618,825 98,900 Required: 1- Use the above information to compute inventory turnover for year 2 and year 3, and its average number of days' sales in inventory on hand for year 2 and year 3.. 2- Assess the company's performance for year 2 and year 3 if competitors average 5.6 times for inventory turnover and 72 days for days' sales in inventory
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