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Compute the inventory turnover

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Question - SCC Co. reported the following for the current year:

Net sales $76,000

Cost of goods sold $53,040

Beginning balance in inventory $3,800

Ending balance in inventory $9,800

Required - Compute (a) inventory turnover and (b) days' sales in inventory. Hint: Recall that inventory turnover uses average inventory, and days' sales in inventory uses the ending balance in inventory.

Reference no: EM133166892

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