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The 2016 income statement of Anderson Medical Supply Company reported net sales of $12 million, cost of goods sold of $6.8 million, and net income
The 2016 income statement of Anderson Medical Supply Company reported net sales of $12 million, cost of goods sold of $6.8 million, and net income of $900,000. The following table shows the company?s comparative balance sheets for 2016 and 2015: Required: Calculate Anderson?s turnover ratios for 2016. (Consider 365 days a year. Round your answers to 2 decimal places.)
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