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Problem 1: Tinker's cost of goods sold in the year of sale (2016) was $930,000 and 2015 cost of goods sold was $950,000. The inventory at the end of 2016 was $206,000 and at the end of 2015 the inventory was $226,000. Tinker's average number of days to sell its inventory during 2016 is closest to: (Use 365 days a year. Do not round intermediate calculations.)
Option 1: 84.77 days
Option 2: 86.83 days
Option 3: 82.99 days
Option 4: 80.85 days
Pine Company's inventory of $1,761,000 at December 31, 2014, What amount should Pine report as inventory on its balance sheet
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