7-1 Problem Set: Module Seven - X CengageNOWv2 | Online teachin X + gagenow.com/ilm/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&in... A eBook Show Me How Inventory Analysis A company reports the following: Cost of goods sold $361,350 Average inventory 72,270 Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume 365 days a year. a. Inventory turnover 5 b. Number of days' sales in inventory X days Feedback Check My Work a. Divide cost of goods sold by average inventory. b. Divide average inventory by average daily cost of goods sold. Average daily cost of goods sold are Cost of Goods Sold divided by 365 days