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You have been advised that a business has an inventory turnover of 8.49.
What is the average number of days that inventory is held in the business prior to its sale?What is the formulae for inventory turnover?
aski: Thank you for your answer, but please don’t answer in this forum because it is Ask the Tutor, and you are not the tutor (but please do help people in the general F3 forum 🙂 )
@47@: Aski’s answer is correct. Inventory days is the number of days in the year divided by the inventory turnover.
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