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The Baldwin Wholesale Company began 2011 with inventory of $400,000 and ended the year with inventory of $500,000. The company's gross profit ratio is 25%, inventory turnover ratio is 2, and receivables turnover ratio is 4. Accounts receivable at the beginning of 2011 totaled $250,000.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9440894

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