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Question - The following financial information is for Chesapeake Corporation are for the fiscal years ending 2018 & 2017 (all balances are normal):
Item/Account
2018
2017
Cash
$35,000
$24,000
Accounts Receivable
56,000
52,000
Inventory
60,000
36,000
Current Liabilities
76,000
42,000
Net Sales (all credit)
550,000
485,000
Cost of Goods Sold
290,000
265,000
Required - Use this information to compute the number of days in inventory for 2018?
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