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Question 4 (Ratio Analysis) Use the following selected financial information to answer the questions that follow. (10 marks) Inventory Total Assets Cost of Goods

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Question 4 (Ratio Analysis) Use the following selected financial information to answer the questions that follow. (10 marks) Inventory Total Assets Cost of Goods Sold Net Income Required: 1. 2. 3. 2021 2020 R 56,000 R 64,000 2019 R 53,000 1,205,000 952,000 945,000 360,000 420,000 440,000 65,000 25,000 16,000 Calculate this company's inventory turnover ratio for 2021 and 2020(4) Determine the number of days it would take to turn over the entire inventory at December 31, 2021 and 2020(4) What problems are apparent with the company's inventory management? (2)

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