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28 August, 05:37

Topeka Manufacturing reported sales of $750,000 during the current year. The company used $300,000 of raw materials to produce the units that were sold. Its raw materials inventory totaled $10,000 at the beginning of the year and $14,000 at the end of the year. What is the company's raw materials inventory turnover

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  1. 28 August, 06:49
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    25.0

    Explanation:

    Raw materials inventory turnover = raw materials used : average raw materials inventory

    ($10,000 + $14,000) : 2)

    =$24,000:2 = $12,000

    $300,000 : $12,000 = $25.0

    Therefore the company's raw materials inventory turnover is $25.0
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