Given the data below answer the questions. Year 3 Cost of goods sold Ending inventory $ 623,825

Given the data below answer the questions.

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Year 3 Cost of goods sold Ending inventory $ 623,825 98,400 Year 2 $ 406,650 88,750 Year 1 $371,300 93,500 Use the above information to compute inventory turnover for Year 3 and Year 2, and days' sales in inventory at December 31 of Year 3 and Year 2. From Year 2 to Year 3, did the company improve its (a) inventory turnover and (b) days' sales in inventory? Use the above information to compute inventory turnover for Year 2, and its days' sales in inventory at December 31, Year 2. Inventory turnover Days' sales in inventory Numerator Denominator = Ratio Use the above information to compute inventory turnover for Year 3, and its days' sales in inventory at December 31, Year 3. Inventory turnover Days' sales in inventory Numerator Denominator Did the company improve its (a) inventory turnover and (b) days' sales in inventory? (a) Did the company improve its inventory turnover? (b) Did the company improve its days' sales in inventory? = Ratio Year 3 Cost of goods sold Ending inventory $ 623,825 98,400 Year 2 $ 406,650 88,750 Year 1 $371,300 93,500 Use the above information to compute inventory turnover for Year 3 and Year 2, and days' sales in inventory at December 31 of Year 3 and Year 2. From Year 2 to Year 3, did the company improve its (a) inventory turnover and (b) days' sales in inventory? Use the above information to compute inventory turnover for Year 2, and its days' sales in inventory at December 31, Year 2. Inventory turnover Days' sales in inventory Numerator Denominator = Ratio Use the above information to compute inventory turnover for Year 3, and its days' sales in inventory at December 31, Year 3. Inventory turnover Days' sales in inventory Numerator Denominator Did the company improve its (a) inventory turnover and (b) days' sales in inventory? (a) Did the company improve its inventory turnover? (b) Did the company improve its days' sales in inventory? = Ratio

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To compute the inventory turnover and days sales in inventory for Year 3 and Year 2 we will use the ... View the full answer