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Which quarter is dawn using for her inventory turnover

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Reference no: EM132812170

Question - Dawn's fruitcake factory specializes in making christmas fruitcakes. During the year, they had $3.0 million in food sales with a 40 percent food cost. Dawn takes inventory every quarter, the inventories for the past year are shown as follows.

End of 1st quarter $300,000

End of 2st quarter $400,000

End of 3st quarter $600,000

End of 4st quarter $200,000

Required -

(1) Which quarter is Dawn using for her inventory turnover calculation?

(2) Do you think this is the appropriate approach to calculate inventory turnover?

Reference no: EM132812170

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