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The average inventory at cost for the year for Media Industries was $162,300. Their cost of goods sold for the year was $738,400. The inventory
The average inventory at cost for the year for Media Industries was $162,300. Their cost of goods sold for the year was $738,400. The inventory turnover rate published for a business of this size is 5.2 times. Calculate the actual inventory turnover rate at cost for the company. (Round your answer to the nearest tenth) times If the turnover rate is below the industry average of 5.2 times, calculate the target average inventory needed to match the
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