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(Solved): A manufacturing company producing medical devices reported $61 million in sales over the last year. ...



A manufacturing company producing medical devices reported $61 million in sales over the last year. At the end of the same year, the company had $25 million worth of inventory of ready-to-ship devices. Assuming that units in inventory are valued (based on cost of goods sold) at $1,000 per unit and are sold for $2,000 per unit, what is the company’s annual inventory turnover?



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