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A company reports the following: Cost of merchandise sold $480,340 Average merchandise inventory 68,620 Determine...

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Accounting

A company reports the following: Cost of merchandise sold $480,340 Average merchandise inventory 68,620 Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume 365 days a year. a. Inventory turnover fill in the blank 1 b. Number of days' sales in inventory

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