a. Determine for each year (1) the inventory turnover and (2) the number of days' sales in inventory. 1. The inventory turnover: (if required, round your answers to one decimal place.) Current Year Preceding Year 2. The number of days' sales in inventery: Assume a 365-day vear. (Round your intermediate calculation to whole number and final answers to twe decimal places.) Current Year days Preceding Year days b. Comment on the faverable and unfavorable trends revealed by the data. and the number of days' sales in inventory which are unfavorable trends. Sales while gross profit The inventory turnover

a. Determine for each year (1) the inventory turnover and (2) the number of days' sales in inventory. 1. The inventory turnover: (if required, round your answers to one decimal place.) Current Year Preceding Year 2. The number of days' sales in inventery: Assume a 365-day vear. (Round your intermediate calculation to whole number and final answers to twe decimal places.) Current Year days Preceding Year days b. Comment on the faverable and unfavorable trends revealed by the data. and the number of days' sales in inventory which are unfavorable trends. Sales while gross profit The inventory turnover

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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