Compute for each year the inventory turnover

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Question

The following data were taken from the income statements of Mydorf Company.

2020 2019

Sales revenue $6,340,000  $6,300,000

Beginning inventory 960,000   860,000

Purchases  4,311,000   4,650,000

Ending inventory  1,050,000  960,000

Compute for each year the inventory turnover. (Round answers to 1 decimal place, e.g. 1.6.)

2020  2019

Inventory turnover

times

times

Compute for each year the days in inventory. (Use 365 days for calculation. Round answers to 1 decimal place, e.g. 1.6.)

2020 2019

Days in inventory

days

days

Reference no: EM132378584

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