Question: The following data were extracted from the income statement of Brecca Systems Inc.: a. Determine for each year (1) the inventory turnover and (2) the

The following data were extracted from the income statement of Brecca Systems Inc.:

a. Determine for each year (1) the inventory turnover and (2) the number of days?? sales in inventory. Round to nearest dollar and one decimal place.b. What conclusions can be drawn from these data concerning theinventories?

Current Year Preceding Year $1,192,320 Sales $1,139,600 80,000 Beginning inventories Cost of goods sold Ending inventories 64,000 662,400 80,000 569,800 74,000

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