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Calculate the inventory turnover

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Reference no: EM133024421

Problem - Crane Company reported the following information for a three-year period:

 

2021

2020

2019

Ending inventory

$21,000

$28,000

$34,000

Sales

129,000

138,000

114,000

Cost of goods sold

58,050

62,100

51,300

Profit

30,000

38,000

42,000

Required - Calculate the inventory turnover, days sales in inventory, and gross profit margin for 2021 and 2020.

Reference no: EM133024421

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