Refer to CVS's annual report in the Supplement to Chapter 1 and to the following data (in
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Calculate inventory turnover and days' inventory on hand for 2010 and 2011. (Round to one decimal place.) If you did C4, refer to your answer there for CVS. Has either company improved its performance in these areas over the past two years? If so, what advantage does this give the company? Which company appears to make the most efficient use of inventories? Explain your answers.
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Financial and Managerial Accounting
ISBN: 978-1133940593
10th edition
Authors: Belverd E. Needles, Marian Powers, Susan V. Crosson
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