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Required information Skip to question [The following information applies to the questions displayed below.] Wawa Food Markets is a convenience store chain located primarily in

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[The following information applies to the questions displayed below.] Wawa Food Markets is a convenience store chain located primarily in the Northeast. The company sells gas, candy bars, drinks, and other grocery-related items. St. Jude Medical Incorporated sells medical devices related to cardiovascular needs. Suppose a local Wawa Food Market and St. Jude sales office report the following amounts in the same year (company names are disguised):

Company 1 Company 2
Net sales $ 490,000 $ 490,000
Cost of goods sold 261,000 411,000
Gross profit $ 229,000 $ 79,000
Average inventory $ 49,000 $ 39,000

1. For Company 1 and Company 2, calculate the inventory turnover ratio.

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Inventory Turnover Ratio Company 1 = Company 2 =

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