Essay
Inventory analysis and ratios
Avery Ltd. began the fiscal year with inventory of $2,142,560. The company's ending inventory was $2,241,650, and cost of goods sold for the year was $14,320,400. Net sales for the year were $81,877,520.
Instructions
Calculate Avery's inventory turnover and average days to sell inventory. (Use 365 days, round to two decimal places).
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