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Compute the inventory turnover for each year

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

 

2022

2021

Sales revenue

$6,407,000

$6,123,000

Beginning inventory

962,200

857,300

Purchases

4,757,840

4,653,650

Ending inventory

1,126,000

962,200

Required - Compute the inventory turnover for each year.

Reference no: EM133057429

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