210,000 90,000 210,000 Determine the inventory turnover and days in inventory for 2016 and 2017. Discuss the changes in the amount of inventory, the inventory turnover and days in inventory, and the amount of sales across the 2 years. EXERCISES E6-1 Umatilla Bank and Trust is considering giving Pohl Company a loan. Before doing so, it decides that further discussions with Pohľ's accountant may be desirable. One area of particular concern is the Inventory account, which has a year-end balance of $275,000. (LO 1)– Discussions with the accountant reveal the following. Determ атоин DisPobl sold goods costing $55,000 to Hemlock Company FOB shipping point on December 28. The goods are not expected to reach Hemlock until January 12. The goods were not included in the physical inventory because they were not in the warehouse. 2. The physical count of the inventory did not include goods costing $95,000 that were shipped to Pohl FOB destination on December 27 and were still in transit at year-end. 3. Pohl received goods costing $25,000 on January 2. The goods were shipped FOB ship- ping point on December 26 by Yanice Co. The goods were not included in the physical count. nd Analyzing Inventory 4. Pohl sold goods costing $51,000 to Ehler of Canada FOB destination on December 30 The goods were received in Canada on January 8. They were not included in Pobls physical inventory. 5. Pohl received goods costing $42,000 on January 2 that were shipped FOB destination on December 29. The shipment was a rush order that was supposed to arrive Decem ber 31. This purchase was included in the ending inventory of $275,000. Instructions Determine the correct inventory amount on December 31, E6-2 Farley Bains, an auditor with Nolls CPAS, is performing a review of Ryder Companys Inventory account. Ryder did not have a good year, and top management is under presse to boost reported income. According to its records, the inventory balance at year-end s $740,000. However, the following information was not considered when determining th amount.