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Question - The cost of goods sold computations for Cullumber Company and Pharoah Company are shown below.
Cullumber Company
Pharoah Company
Beginning inventory
$47,000
$73,000
Cost of goods purchased
302,000
360,760
Cost of goods available for sale
349,000
433,760
Ending inventory
129,000
133,000
Cost of goods sold
$220,000
$300,760
Required - Compute inventory turnover for each company.
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