(Answered) Question average inventory inventory turnover ratio

Accounting

Question: Average Inventory, Inventory Turnover Ratio, Inventory Turnover in Days Delater Company had sales of $3,948,340 and a gross margin of $1,859,260. Delater had beginning inventory of $53,420 and ending inventory of $62,640.

Required: 1. Calculate the average inventory.

2. Calculate the inventory turnover ratio.

3. Calculate the inventory turnover in days.

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