Question: Options for fill-in: improving inventory position OR deteriorating inventory position OR no conclusion based from data Current Year Preceding Year Sales Beginning inventories Cost of

Options for fill-in: improving inventory position OR deteriorating inventory position OR no conclusion based from data

Current Year Preceding Year Sales Beginning inventories Cost of goods sold Ending inventories $817,600 47,660 408,800 43,060 $854,100 52,050 474,500 61,050 a. (1). Determine for each year the inventory turnover. Round to one decimal place. Current year Preceding year (2). Determine for each year the number of days' sales in inventory. Assume there are 365 days in the year. Round intermediate calculations to the nearest whole dollar and final answers to one decimal place Current year Preceding year days days b. What conclusions can be drawn from these data concerning the inventories

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