W. Glass & Company reported the following information in its recent annual report: Year 1 Year 2
Fantastic news! We've Found the answer you've been seeking!
Question:
W. Glass & Company reported the following information in its recent annual report:
| Year 1 | Year 2 | |
|---|---|---|
| Cost of goods sold | $8,200,000 | $8,800,000 |
| Beginning inventory | 900,000 | 860,000 |
| Ending inventory | 860,000 | 640,000 |
Calculate the company's inventory turnover and days' sales in inventory for both years. Round answers to two decimal places. Use rounded answers for subsequent calculations.
| Year 1 | Year 2 | |
|---|---|---|
| Inventory turnover | ||
| Days' sales in inventory |
Expert Answer:
Related Book For 
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
