Chapter 6 Homework -Assignment #1 Show Me How eBook Calculator Inventory Tumover and Number of Days Sales in Inventory 1. PE.6-1 ALGO The following financial statement data for years ending December 31 for Gillispie Company are shown below. 2. PE 6-2 ALGO 2016 2015 3. PE 6-3.ALGO Cost of merchandise sold $873,080 $541,733 Inventories: 4. PE 6-4.B Beginning of year $155,490 $108,770 5. PE.6-5ALGO End of year 224,110 155,490 a. Determine the inventory turnover for 2016 and 2015. Round to one decimal place. 6. PE.6-6.ALGO Inventory Turnover 7. PE 6-8 ALGO 2016 2015 b. Determine the number of days sales in inventory for 2016 and 2015. Assume 365 days a year. Round interim calculations and final answers to one decimal Number of Days' Sales in Inventory 2016 days 2015 days c. Does the change in inventory turnover and the number of days sales in iventory from 2015 to 2016 indicate a favorable or an unfavorable trend? Check My Work 2 more Check My Work uses remaining Progress: 77 items Assignment Score: 59.26% All work saved. Save and Exit Subm