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The following information pertains to Unique Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were

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The following information pertains to Unique Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets $ 40,000 Cash and short-term investments Accounts receivable (net) Inventory 25,000 20,000 Property, plant and equipment 210.000 Total Assets $295.000 ter ort Liabilities and Stockholders' Equity Current liabilities $ 60,000 Long-term liabilities 85,000 Stockholders' equity-common 150.000 Total Liabilities and Stockholders' Equity $295.000 Income Statement Sales revenue $75,000 40.000 Cost of goods sold Gross profit 35,000 Operating expenses 5.500 Net income $29.500 Gross profit 35,000 Operating expenses 5,500 Net income $ 29,500 Number of shares of common stock 5,000 $47.20 Market price of common stock Dividends per share on common stock Cash provided by operations 0.90 $30,000 Center What is the inventory turnover for this company? pport 1 time urce 44 times 2.25 times 2 times

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