Question: Based on the following iinformation: compute (a) inventory turnover, (b) number of days' sales in inventory for the current year. Use a 365-day year. (c)

Based on the following iinformation: compute (a) inventory turnover, (b) number of days' sales in inventory for the current year. Use a 365-day year. (c) If an inventory turnover of 12 is average for the industry, how is this company doing?

Items Prior Year. Current Year.

Cost of Merchandise Sold $172900. $215000

Inventory 18000 12000

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