A company reports the following: Cost of merchandise sold Average merchandise inventory $680,400 94,500 Determine (a)...

 

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A company reports the following: Cost of merchandise sold Average merchandise inventory $680,400 94,500 Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the final answers to one decimal place. Assume 365 days a year. a. Inventory turnover b. Number of days' sales in inventory days A company reports the following: Cost of merchandise sold Average merchandise inventory $680,400 94,500 Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the final answers to one decimal place. Assume 365 days a year. a. Inventory turnover b. Number of days' sales in inventory days