Do a trend analysis of the inventory turnover for each year. Also calculate the days to sell inventory ratio for the respective years.

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Cost of goods sold Average inventory 2020 2021 2022 2023 2020 2024 $905,120 134,060 2021 Inventory Turnover $1,004,410 155,670 2022 $1,217,910 206,770 (a) Do a trend analysis of the inventory turnover for each year. Also calculate the days to sell inventory ratio for the respective years. (Round inventory turnover to 2 decimal places, eg. 18.42 and number of days to 1 decimal place, e.g. 13.6.) 2023 Number of Days $1,367,700 321,720 days days days days 2024 days $1,393,950 450,600 Cost of goods sold Average inventory 2020 2021 2022 2023 2020 2024 $905,120 134,060 2021 Inventory Turnover $1,004,410 155,670 2022 $1,217,910 206,770 (a) Do a trend analysis of the inventory turnover for each year. Also calculate the days to sell inventory ratio for the respective years. (Round inventory turnover to 2 decimal places, eg. 18.42 and number of days to 1 decimal place, e.g. 13.6.) 2023 Number of Days $1,367,700 321,720 days days days days 2024 days $1,393,950 450,600

Answer rating: 100% (QA)

Year Inventory turnover Number of days 2020 67 times 54 days 2021 645 times 565 ... View the full answer