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Foxmoor Company's Merchandise Inventory and Other Related Accounts for 2012

Question 72

Essay

Foxmoor Company's merchandise inventory and other related accounts for 2012 follow:
 Sales $3,100,000 Cast af Gadds Sald 2,153,200 Merchantise Inventary  Bepinning of Year 850,000 End of Year 995,000\begin{array} { | l | r | } \hline \text { Sales } & \$ 3,100,000 \\\hline \text { Cast af Gadds Sald } & 2,153,200 \\\hline \text { Merchantise Inventary } & \\\hline \text { Bepinning of Year } & 850,000 \\\hline \text { End of Year } & 995,000 \\\hline\end{array}
Required:
Calculate Foxmoor's inventory turnover during 2012 assuming that the merchandise inventory buildup was relatively constant during the year. 

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