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Chapter 9 Selected financial information for Franklin Company for Year 4...

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Accounting

Chapter 9

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Selected financial information for Franklin Company for Year 4 follows: Sales $1,950,000 1,365,000 Cost of goods sold Merchandise inventory Beginning of year End of year 157,000 199,000 Required Assuming that the merchandise inventory buildup was relatively constant, how many times did the merchandise inventory turn over during Year 4? (Round your answer to 2 decimal places.) Merchandise inventory turnover times

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