Determine the inventory turnover and dio

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Reference no: EM131340980

Selim Plc began 2004 with inventory of EUR 320,000. Sales in 2004 were EUR 1,600,000, purchases of inventory totalled EUR 1,380,000, and ending inventory was EUR 440,000.

(a) Prepare a statement of gross profit for 2004

(b) Determine the inventory turnover and DIO.

Reference no: EM131340980

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