The following information was available for the year ended December 31, 2022: ...
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Accounting
The following information was available for the year ended December 31, 2022:
| Cost of goods sold | $ 646,050 |
|---|---|
| Average inventory for the year | 21,400 |
| Inventory at year-end | 43,350 |
Required:
Calculate the inventory turnover for 2022.
Note: Round your answer to 2 decimal places.
Calculate the number of days' sales in inventory for 2022, using year-end inventories.
Note: Use 365 days a year. Round your answer to 1 decimal place.
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