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Swenson Glass had cost of goods sold for the year of $6,240,000. The beginning inventory at cost was $586,300 and the ending inventory at cost
Swenson Glass had cost of goods sold for the year of $6,240,000. The beginning inventory at cost was $586,300 and the ending inventory at cost amounted to $492,900.
| a. | What was the average inventory for the year? |
| b. | What was the actual inventory turnover rate at cost for the company? (Round your answer to the nearest tenth) |
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Elementary Statistics Picturing The World
Authors: Betsy Farber, Ron Larson
7th Global Edition
1292260467, 978-1292260464
