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Suppose that the following information is available for Nike Inc. for the current year. Beginning inventory $10,620 Ending inventory 13,430 Cost of goods sold
Suppose that the following information is available for Nike Inc. for the current year. Beginning inventory $10,620 Ending inventory 13,430 Cost of goods sold 84,175 Net sales 146,100 Calculate the inventory turnover, days in inventory, and gross profit rate for Nike Inc. for the current year. (Round gr 2 decimal places, e.g. 12.51 and other answers to 1 decimal place, e.g. 15.2. Use 365 days for calculation.) Inventory turnover Days in inventory Gross profit rate eTextbook and Media times days %
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