Current-year balance sheet of a company shows beginning and end inventories of $100.3M million and $71.2M million,
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Current-year balance sheet of a company shows beginning and end inventories of $100.3M million and $71.2M million, respectively. The net revenue from sales for the year is $230.3M million and the gross profit is $59.8 million. The final report claims that the company’s average days-in-inventory is 2 months. Assess the company’s claim.
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Companys report is not accurate 100...View the full answer
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