Reynolds Company had net sales of $2,500,000, cost of goods sold of $1,150,000, and profit of $500,000
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Reynold’s Company had net sales of $2,500,000, cost of goods sold of $1,150,000, and profit of $500,000 in 2021. The company had a January 1, 2021, inventory balance of $132,000 and a December 31, 2021, inventory balance of $143,000. Calculate the inventory turnover and days sales in inventory ratios for 2021.
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Related Book For 
Accounting Principles Volume 1
ISBN: 978-1119502425
8th Canadian Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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