cion has ending inventory of $713,673 and cost of goods sold as $9,259,165. nventory turnover? (Do not round intermediate calculations and round y es, e.g., 32.16.) lays' sales in inventory? (Do not round intermediate calculations and ra places, e.g., 32.16.) average did a unit of inventory sit on the shelf before it was sold? (Do no calculations ond round your onswor to 3 docime 22 16I
cion has ending inventory of $713,673 and cost of goods sold as $9,259,165. nventory turnover? (Do not round intermediate calculations and round y es, e.g., 32.16.) lays' sales in inventory? (Do not round intermediate calculations and ra places, e.g., 32.16.) average did a unit of inventory sit on the shelf before it was sold? (Do no calculations ond round your onswor to 3 docime 22 16I
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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4. Answer questions A B and C

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A7X Corporation has ending inventory of $713,673 and cost of goods sold for the year
just ended was $9,259,165.
a. What is the inventory turnover? (Do not round intermediate calculations and round your answer to 2
decimal places, e.g., 32.16.)
b. What is the days' sales in inventory? (Do not round intermediate calculations and round your answer
to 2 decimal places, e.g., 32.16.)
c. How long on average did a unit of inventory sit on the shelf before it was sold? (Do not round
intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Inventory turnover
times
a.
b.
Days' sales in inventory
days
Days on the shelf
days
с.
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