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Mathematics, 07.04.2021 22:20 kob3965

Lewis Incorporated and Clark Enterprises report the following amounts for the year. Lewis Clark

Inventory (beginning) $ 17,000 $ 43,000

Inventory (ending) 11,000 53,000

Purchases 160,200 173,400

Purchase returns 8,000 53,000

2. Calculate the inventory turnover ratio for each company.
3. Calculate the average days in inventory for each company.

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