Question: 1. Compute the inventory turnover ratio for each year given the following: 20x1 20x2 $10,000,000 9,000,000 1,000,000 2. Calculate the average collection period if the

1. Compute the inventory turnover ratio for each year given the

1. Compute the inventory turnover ratio for each year given the following: 20x1 20x2 $10,000,000 9,000,000 1,000,000 2. Calculate the average collection period if the total credit sales are Sales COGS Inventory $8,000,000 6,000,000 800,000 $4,000,000 and the acounts receivable is $350,000. Assume a 360-day year

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