The Following Information Is Available for the McCartney Corporation Calculate the Company's Inventory Turnover and Its Days' Sales in \text

question 52

Essay

The following information is available for the McCartney Corporation:
$\begin{array}{|l|r|}\hline \text { Sales } & \$ 750,000 \\\hline \text { Cost of goods sold } & 450,000 \\\hline \text { Gross profit } & 300,000 \\\hline \text { Operating income } & 85,000 \\\hline \text { Net income } & 42,000 \\\hline \text { Inventory, beginning-year } & 71,200 \\\hline \text { Inventory, end-of-year } & 48,800 \\\hline\end{array}$ Calculate the company's inventory turnover and its days' sales in inventory.

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Definitions:

Oceanic Crust

The thin part of Earth's crust that underlies the ocean basins, composed mostly of basalt and denser than the continental crust.

Core

The innermost part of the Earth, composed primarily of iron and nickel, divided into a solid inner core and a liquid outer core.

Mantle

The thick layer of the Earth located between the crust and the core, composed of silicate rocks rich in magnesium and iron.

Central Zone

A term that can refer to the central area of a geological feature, a city, or a defined area, known for its significance or distinguishing characteristics.