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Calculate the inventory turnover ratio for each company

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Reference no: EM132513258

Question - Lewis Incorporated and Clark Enterprises report the following amounts for the year.

 

Lewis

Clark

Inventory (beginning)

$25,000

$51,000

Inventory (ending)

19,000

61,000

Purchases

276,200

244,600

Purchase returns

16,000

61,000

Required - Calculate the inventory turnover ratio for each company.

Reference no: EM132513258

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