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The cost of goods sold computations for O'Brien Company and Weinberg Company are shown below.

	O'BrienCompany		WeinbergCompany
Beginning inventory	$45,000	$71,000
Cost of goods purchased	200,000	290,000
Cost of goods available for sale	245,000	361,000
Ending inventory	55,000	69,000
Cost of goods sold	$190,000	$292,000

Instructions

(a) Compute inventory turnover and days in inventory for each company.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9797759

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