The following information for Valdez Industries was taken from the company€™s financial statements (amounts in thousands):

Instructions:
1. Compute he inventory turnover and the number of days€™ sales in inventory for the years 2006€“2008. Use average inventory in your calculations.
2. Evaluate Valdez€™s inventory turnovertrend.

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2008 2007 2006 2005 $24,000 19,600 ,400 3,900 2,300 $18,000 3.900 1.200 3.600 1,200 320 $12.000 7.200 Cost of goods sold Accounts receivable Accounts payable 0,200 910 2 1.500 510 3,200 1,800 430 Net income