A company reports the following:
Determine the (a)inventory turnover,and (b)number of days' sales in inventory.Round your answer to one decimal place.
Definitions:
Liquidating a Partnership
The process of terminating a partnership by selling off assets, paying off creditors, and distributing the remaining assets to partners.
Divide Profits
The process of allocating earnings among shareholders, partners, or other stakeholders according to their ownership interests or agreement terms.
Remaining Cash
The amount of cash a business has after all expenses and distributions have been made.
Revaluation
The process of adjusting the book value of an asset to reflect its current market value.
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