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Business, 03.12.2021 17:30 gibbss80stu

Exercise 6-15A Calculate cost of goods sold, the inventory turnover ratio, and average days in inventory (LO6-2, 6-7) Skip to question [The following information applies to the questions displayed below.] Lewis Incorporated and Clark Enterprises report the following amounts for the year. Lewis Clark Inventory (beginning) $ 24,000 $ 50,000 Inventory (ending) 18,000 60,000 Purchases 261,000 235,000 Purchase returns 15,000 60,000 Exercise 6-15A Part 1 Required: 1. Calculate cost of goods sold for each company.

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Exercise 6-15A Calculate cost of goods sold, the inventory turnover ratio, and average days in inven...

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