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Calculate the inventory turnover for each year

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Reference no: EM133081244

Question - The following data are from the income statements of Pharoah Company.

 

2021

2020

Sales revenue

$6,586,000

$6,122,000

Beginning inventory

951,400

814,500

Purchases

4,746,000

4,665,000

Ending inventory

1,158,000

951,400

Required - Calculate the inventory turnover for each year. Calculate the days in inventory for each year.

Reference no: EM133081244

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