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Your firm has sales of R628 000.00, and cost of goods sold of R402 000.00. At the beginning of the year, your inventory was R31
Your firm has sales of R628 000.00, and cost of goods sold of R402 000.00. At the beginning of the year, your inventory was R31 000.00. At the end of the year, the inventory balance was R33 000.00. 1) What is the inventory turnover rate? (5marks) 2 Explain what the calculated inventory turnover rate means in relation to your firm? (1marks
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