A manufacturing company producing medical devices reported $59 million in sales over the last year. At the end of the same year, the company had $17 million worth of inventory of ready-to-ship devices. Assuming that units in inventory are valued (based on cost of goods sold) at $500 per unit and are sold for $2,000 per unit, what is the company's annual inventory turnover? Note: Round your answer to 1 decimal place.

A manufacturing company producing medical devices reported $59 million in sales over the last year. At the end of the same year, the company had $17 million worth of inventory of ready-to-ship devices. Assuming that units in inventory are valued (based on cost of goods sold) at $500 per unit and are sold for $2,000 per unit, what is the company's annual inventory turnover? Note: Round your answer to 1 decimal place.

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Description: Sh1 PA 10-10 (Algo) A manufacturing company producing medical...A manufacturing company producing medical devices reported $59 million in sales over the last year. At the end of the same year, thecompany had $17 million worth of inventory of ready-to

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ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter15: Managing Short-term Assets

Section: Chapter Questions

Problem 19PROB

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