A company reports the following: Cost of merchandise sold $251,120 Average merchandise inventory 62,780 Determine (a) the

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A company reports the following:

Cost of merchandise sold	$251,120
Average merchandise inventory	62,780

Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume 365 days a year.

a. Inventory turnover	fill in the blank 1
b. Number of days' sales in inventory	fill in the blank 2 days

Related Book For answer-question

Corporate Financial Accounting

ISBN: 978-1133952411

12th edition

Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac

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Posted Date: May 24, 2022 07:11 AM

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A company reports the following: Cost of merchandise sold $251,120 Average merchandise inventory 62,780 Determine (a) the

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Given Cost of merchandise sold 251120 Average inventory 62780 a Inventory Turnover T... View the full answer

Corporate Financial Accounting

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