Use the Hajjar's Data Set to compute the following: a. The rate of inventory turnover for 2012.
Question:
a. The rate of inventory turnover for 2012.
b. Days' sales in average receivables during 2012.
Hajjar's Data Set
Hajjar's
Income Statement
For the Year Ended December 31, 2012
Net sales ...................................................................................................... $42,522,500
Cost of goods sold........................................................................................ 29,900,000
Interest expense............................................................................................ 405,820
All other expenses ........................................................................................ 9,665,300
income.......................................................................................................... $2,551,380
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