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Refer to the following selected financial information from Texas Electronics. Compute the company's inventory turnover for Year 2. Year 2 Year 1 Cash Short-term
Refer to the following selected financial information from Texas Electronics. Compute the company's inventory turnover for Year 2. Year 2 Year 1 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses $ 38,400 $ 33,150 99,000 64,500. 90,000 84,000 125,500 129,500 13,000 10,600 Plant assets 392,500 342,500 Accounts payable 108,900 112,300 Net sales 715,500 680,500 Cost of goods sold 394,500 379,500
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