Question: eBook Show Me How Question Content Area Inventory Analysis A company reports the following: Cost of goods sold $534,360 Average inventory 89,060 Determine (a) the

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Inventory Analysis

A company reports the following:

Cost of goods sold	$534,360
Average inventory	89,060

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	fill in the blank 1
b. Number of days' sales in inventory	fill in the blank 2 days

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