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Inventory Analysis A company reports the following: Cost of goods sold $434,350...

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Accounting

Inventory Analysis

A company reports the following:

Cost of goods sold $434,350
Average inventory 62,050

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
b. Number of days' sales in inventory days

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