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Question 5
4 points
The average inventory at retail for The New Age Furniture Store was \$2,575,350. The turnover rate at retail was 3.0, based on net sales of \$7,726,050. The published inventory turnover rate is 4.5. If the actual turnover rate is less than the published rate, calculate the target average inventory at retail.
\$1,570,200
\$207,400
\$888,800
\$1,676,745
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Question 5 of 25