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What is the inventory turnover period for Sphinx

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Reference no: EM133183469

Question - Sphinx Ltd has provided the following information for the year ended 30 June 2015.

Sales (all on credit) $1,900,000

Gross profit on sales 900,000

Net profit 150,000

Cost of sales 1,000,000

Average inventory held in 2015 200,000

Accounts receivable at end of year 500,000

Required - What is the inventory turnover period for Sphinx in 2015?

Reference no: EM133183469

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