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Calculate the inventory turnover and days sales in inventory

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Reference no: EM133030583

Problem - Ivanhoe Company reported the following information for a three-year period:

 

2021

2020

2019

Ending inventory

$20,000

$29,000

$35,000

Sales

125,000

130,000

112,000

Cost of goods sold

53,750

55,900

48,160

Profit

27,000

42,000

42,000

Required - Calculate the inventory turnover, days sales in inventory, and gross profit margin for 2021 and 2020.

Reference no: EM133030583

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