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QUESTION
A steel company processes $400 million of iron ore per year. The cost of process ore is $200 million per year. That is the cost of goods sold =...
A steel company processes $400 million of iron ore per year. The cost of process ore is $200 million per year. That is the cost of goods sold = $400+200=$600 million per year. The average inventory is $100 million. How long does a dollar spend in the steel company's process?
