In a recent annual report, Lily Inc. reported beginning inventory of $1,200 million and ending...
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Accounting
In a recent annual report, Lily Inc. reported beginning inventory of $1,200 million and ending inventory of $1,100 million, cost of goods sold of $9,200 million, and net sales of $9.600 million. (a1) Your answer is incorrect. Compute Lily's inventory turnover. (Round answer to 2 decimal places, eg. 7.62.) Inventory turnover times
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