Inventory Analysis The following data were extracted from the income statement of Keever Inc.: Current Year...

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Inventory Analysis The following data were extracted from the income statement of Keever Inc.: Current Year Previous Year Sales $1,051,200 $1,103,800 Beginning inventories 55,304 67,852 Cost of goods sold 525,600 613,200 Ending inventories 50,104 55,304 a. Determine for each year (1) the inventory turnover and (2) the number of days' sales in inventory. Round interim calculation Current Year Previous Year 1. Inventory turnover 2. Number of days' sales in inventory b. The inventory position of the business has while the days The inventory turnover has days E of Keever Inc.: Previous Year $1,103,800 67,852 613,200 55.304 (2) the number of days' sales in inventory. Round interim calculations to the nearest dollar and the final answers to one decimal place. Assume 365 days a year. Current Year Previous Year days The inventory turnover has while the number of days sales in inventory has days Inventory Analysis The following data were extracted from the income statement of Keever Inc.: Current Year Previous Year Sales $1,051,200 $1,103,800 Beginning inventories 55,304 67,852 Cost of goods sold 525,600 613,200 Ending inventories 50,104 55,304 a. Determine for each year (1) the inventory turnover and (2) the number of days' sales in inventory. Round interim calculation Current Year Previous Year 1. Inventory turnover 2. Number of days' sales in inventory b. The inventory position of the business has while the days The inventory turnover has days E of Keever Inc.: Previous Year $1,103,800 67,852 613,200 55.304 (2) the number of days' sales in inventory. Round interim calculations to the nearest dollar and the final answers to one decimal place. Assume 365 days a year. Current Year Previous Year days The inventory turnover has while the number of days sales in inventory has days

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Inventory Turnover Cost of goods sale Average inventory Curr... View the full answer