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Which of the following represents the correct formula for calculating days sales in raw materials inventory for a manufacturer? Raw materials purchased/Average raw materials inventory.
Which of the following represents the correct formula for calculating days sales in raw materials inventory for a manufacturer?
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Raw materials purchased/Average raw materials inventory.
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Average raw materials inventory/Raw materials used.
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Raw materials used/Average raw materials inventory.
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Ending raw materials inventory/Raw materials used x 365.
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Raw materials used/Beginning raw materials inventory x 365.
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