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Determine the number of days sales in inventory

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Reference no: EM133066783

Question - A company reports the following:

Cost of goods sold $2,920,000

Average inventory 292,000

Required -

a. Determine the inventory turnover. Assume a 365-day year.

b. Determine the number of days' sales in inventory. Assume a 365-day year.

Reference no: EM133066783

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