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Use the following information relating to Shana Company to calculate (a) the inventory turnover ratio and (b) the number of days' sales in inventory
Use the following information relating to Shana Company to calculate (a) the inventory turnover ratio and (b) the number of days' sales in inventory ratio. Assume a year has 365 days. Do not round intermediate calculations and round your final answers to 1 decimal place. Cost of Average Sales Goods Sold Inventory Year 2021 $22,000 $16,500 $2,500 Year 2022 28,000 21,000 3,200 Year 2023 35,000 22,750 3,800 Year 2024 37,000 27,250 4,300 Inventory Turnover Days' Sales in Inventory Year 2021 Year 2022 Year 2023 Year 2024
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