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Sorenson Inc. has sales of $3,112,489, a gross profit margin of 23.1 percent, and inventory of $833,145. What are the companys inventory turnover ratio and
Sorenson Inc. has sales of $3,112,489, a gross profit margin of 23.1 percent, and inventory of $833,145. What are the companys inventory turnover ratio and days sales in inventory? (Use 365 days for calculation. Round inventory turnover ratio to 3 decimal places, e.g. 12.555 and days in inventory to 1 decimal places, e.g. 12.5.) Sorensons inventory turnover ratio is Entry field with incorrect answer now contains modified data times and its days sales in inventory is Entry field with incorrect answer now contains modified data days.
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