The following information is available for the McCartney Corporation: Sales $750,000 Costs of goods sold $450,000 Gross Profit $300,000 Operating income $85,000 Net income $42,000 Inventory, beginning-year $71,200 Inventory, end of year $48,800 Calculate the company's inventory turnover and its days' sales in inventory.

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A: DIO( Days Inventory Outstanding)=(Avg Inventory/COGS)*No of days

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