Based on the following iinformation: compute (a) inventory turnover, (b) number of days' sales in...
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Accounting
Based on the following iinformation: compute (a) inventory turnover, (b) number of days' sales in inventory for the current year. Use a 365-day year. (c) If an inventory turnover of 12 is average for the industry, how is this company doing?
Items Prior Year. Current Year.
Cost of Merchandise Sold $172900. $215000
Inventory 18000 12000
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