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Working Backward: Inventory Turnover

It takes Bradley Retailers 90 days on average to sell its inventory. The company began the year with $17,000 in inventory. Sales and cost of goods sold for the year amounted to $95,000 and $60,000, respectively.

Required

Assuming 360 days in a year, determine the amount of Bradley's ending inventory.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91625059

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