Determine the average inventory amount

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Q1. Powers Company reported net sales of $1,380,000, average Accounts Receivable, net of $60,500, and net income of $58,675. Determine the accounts receivable turnover ratio?

Q2. Zhang Company reported Cost of goods sold of $841,000, beginning Inventory of $38,400 and ending Inventory of $46,900. Determine the average Inventory amount?

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