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Problem:

Middleton's has sales for the year of $311,400, cost of goods sold equal to 74 percent of sales, and an average inventory of $42,800. The profit margin is 6 percent and the tax rate is 34 percent.

Required:

Question: How many days on average does it take the firm to sell an inventory item?

Explain in detail.

Basic Finance, Finance

  • Category:- Basic Finance
  • Reference No.:- M91147516

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