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Question - Cloche's Hats had sales for the year of $666,100 and cost of goods sold equal to 68 percent of sales. The inventory at the beginning of the year was $117,700 and the end-of-year inventory was $132,600. What was the company's inventory period? Assume 365 days in a year.
A. 89.04 days
B. 100.85 days
C. 91.95 days
D. 106.85 days
E. 94.85 days
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