Question: 4. Problem 3-4 Calculating Inventory Turnover (LO2) 10 points eBook The Top Corporation has ending Inventory of $481,040, and cost of goods sold for the
4. Problem 3-4 Calculating Inventory Turnover (LO2) 10 points eBook The Top Corporation has ending Inventory of $481,040, and cost of goods sold for the year just ended was $4,642,036. a. What is the inventory turnover? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What is the days' sales in inventory? (Use 365 days a year. Do not round Intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. How long on average did a unit of inventory sit on the shelf before it was sold? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Print References a. Inventory turnover b. Days' sales in inventory c. Inventory days on shelf times days days
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