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Based on the Following Information, Compute (A) Inventory Turnover; (B)

Question 120

Essay

Based on the following information, compute (a) inventory turnover; (b) average daily cost of goods sold using a 365 day year; and (c) number of days' sales in inventory.
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Cost of goods sold $195,640
Inventory:
Beginning of year 20,500
End of year 18,628

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(a) $195,640 ÷ [($20,500 + 18,...

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