Question 23 Tamarisk Merchants reported the following on its income statement for the fiscal year...
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Question 23 Tamarisk Merchants reported the following on its income statement for the fiscal year ended December 31, 2021 and 2020. 2021 $495,160 2020 $475,490 Sales Cost of goods sold Beginning inventory Net purchases Ending inventory Cost of goods sold Gross profit Operating expenses Profit 145,780 346,090 (138,874) 352,996 142,164 87,568 $54,596 154,124 322,660 (145,780) 331,004 144,486 89,168 $55,318 Calculate the inventory turnover ratio for Tamarisk for 2021 and 2020. (Round answers to 2 decimal places, e.g. 52.75.) 2021 2020 Inventory turnover times times Calculate the days sales in inventory for Tamarisk for 2021 and 2020. (Round answers to 0 decimal places, e.g. 5,275 and use 365 days for calculation.) 2021 2020 Days sales in inventory days days
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