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Calculate Inventory Turnover. You identified an error in the Cost of Goods Sold account. Cost...

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Accounting

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Calculate Inventory Turnover.

You identified an error in the Cost of Goods Sold account. Cost of Goods Sold was understated by 43,042.62 in 2020. Calculate Inventory Turnover for 2020 using the corrected amount and round your answer to 2 decimal points.

It is July 5, 2021. You have been apprenticing for the past five years at a high-end bakery in New York City and have worked on virtually every aspect to include the business side of the house. All of this work makes you think you may be ready to open your own bakery in your home town of Long Beach, CA. Before you can daydream about leaving New York for California, you have to complete year-end report and evaluate solvency and profitability trends of the New York Bakery. The New York Bakerv has brovided the following comnarative information

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