Beginning inventory $46,000 $ 75,000 Cost of goods purchased 328,000 273,750 Cost of goods available for...

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Beginning inventory $46,000 $ 75,000 Cost of goods purchased 328,000 273,750 Cost of goods available for sale 374,000 348,750 Ending inventory 74,000 75,000 Cost of goods sold $300,000 $273,750 1) Compute inventory turnover for each company. (Round answers to 2 decimal places, e.g. Pharoah Company Inventory turnover Sheridan Company Beginning inventory $46,000 $ 75,000 Cost of goods purchased 328,000 273,750 Cost of goods available for sale 374,000 348,750 Ending inventory 74,000 75,000 Cost of goods sold $300,000 $273,750 1) Compute inventory turnover for each company. (Round answers to 2 decimal places, e.g. Pharoah Company Inventory turnover Sheridan Company

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To calculate inventory turnover we need to use the following formula Inven... View the full answer