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Inventory Analysis A company reports the following: Cost of goods sold $219,000...

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Accounting

Inventory Analysis

A company reports the following:

Cost of goods sold $219,000
Average inventory 54,750

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

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