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Calculate the inventory turnover and days sales in inventory

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Reference no: EM132880767

Question - Sunland Company had sales of $2,450,000, cost of goods sold of $1,181,500, and profit of $508,000 in 2021. The company had a January 1, 2021, inventory balance of $133,000 and a December 31, 2021, inventory balance of $145,000. Calculate the inventory turnover and days sales in inventory ratios for 2021.

Reference no: EM132880767

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