The Blue Moon Corporation has ending inventory of $407,534, and cost of goods sold for the year just ended was $4,105,612. What is the inventory turnover? The days’ sales in inventory? How long on average did a unit of inventory sit on the shelf before it was sold?

College Accounting, Chapters 1-27
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ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter13: Accounting For Merchandise Inventory
Section: Chapter Questions
Problem 4TF: LO3 A fiscal year that starts and ends at the time the stock of goods is normally at its lowest...
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Calculating Inventory Turnover [LO2] The Blue Moon Corporation has ending
inventory of $407,534, and cost of goods sold for the year just ended was
$4,105,612. What is the inventory turnover? The days’ sales in inventory? How
long on average did a unit of inventory sit on the shelf before it was sold?

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