A company reports the following: Cost of goods sold Average inventory $459,900 76,650 Determine (a) the...

 

Transcribed Image Text:

A company reports the following: Cost of goods sold Average inventory $459,900 76,650 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 6 b. Number of days' sales in inventory days A company reports the following: Cost of goods sold Average inventory $459,900 76,650 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 6 b. Number of days' sales in inventory days