In a year when inventory increased from $100,000 to $140,000, Toffee Co. had sales of $500,000 on

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In a year when inventory increased from $100,000 to $140,000, Toffee Co. had sales of $500,000 on which a gross profit of 40% was earned. On average, how many days did it take the company to sell its inventory? (Assume a 365-day year.)

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Financial Accounting Tools for business decision making

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Posted Date: Mar 12, 2024 02:01 AM

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In a year when inventory increased from $100,000 to $140,000, Toffee Co. had sales of $500,000 on

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To calculate the number of days it took Toffee Co to sell its inventory we need to first cal... View the full answer

Financial Accounting Tools for business decision making

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