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Question Two (20 points) On January 1, 2011, Rafe Company's inventory was $400,000. During 2011, the company purchased $1,900,000 of additional inventory, and on December

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Question Two (20 points) On January 1, 2011, Rafe Company's inventory was $400,000. During 2011, the company purchased $1,900,000 of additional inventory, and on December 31, 2011, i inventory was $500,000. Required: What was the inventory turnover for 2011

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