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Based on the following information, compute
(a) inventory turnover
(b) average daily cost of merchandise sold using a 365-day year and
(c) days' sales in inventory.?Cost of merchandise sold $195,640Inventory:Beginning 20,500Ending 18,628
Equilibrium
A state of balance in a market or economy where supply equals demand, with no external influences causing disruption.
Market
Any structure that allows buyers and sellers to exchange any type of goods, services, and information.
Producer Surplus
The difference between the amount producers are willing to accept for a good or service and the actual amount they receive in the market.
Equilibrium
The state in which market supply and demand balance each other, and as a result, prices become stable.
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