Inventory Analysis A company reports the following: Cost of goods sold $219,000...
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Accounting
Inventory Analysis
A company reports the following:
Cost of goods sold
$219,000
Average inventory
54,750
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
fill in the blank 2 days
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