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QUESTION
Cost of goods sold for 2002 was $550,000 while net sales totaled $1,200,000. On January 1, 2002, inventory was $250,000 while on December 31, 2002,...
Cost of goods sold for 2002 was $550,000 while net sales totaled $1,200,000. On January 1, 2002, inventory was $250,000 while on December 31, 2002, inventory was $200,000. Inventory turnover for 2002 was
