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Compute for each year the inventory turnover

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Question - The following data were taken from the income statements of Mydorf Company.

 

2020

2019

Sales Revenue

$6,330,000

$6,100,000

Beginning Inventory

900,000

815,000

Purchases

4,369,000

4,629,750

Ending inventory

1,090,000

900,000

Required -

1. Compute for each year the inventory turnover.

2. Compute for each year the days in inventory.

Reference no: EM132630555

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