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Inventory turnover=COS/av inv; Inventory Days=365/inv turnover
Rec’bles turnover=credit sales/av rec’bles; Rec’Days=365/rec.turnover
Pay’bles turnover=credit purchases/av pay’bles; Pay days=365/pay.turnoverare these formulae right sir?
2)by the way, cost of sales=cost of good sold right?
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