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Based on the Following Information, Compute

Question 200

Essay

Based on the following information, compute
(a) inventory turnover
(b) average daily cost of merchandise sold using a 365-day year and
(c) days' sales in inventory.?Cost of merchandise sold $195,640Inventory:Beginning 20,500Ending 18,628

Correct Answer:

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(a) $195,640 ÷ [ ($20,500 + $...

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