Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume 365 days a year. a. Inventory turnover b. Number of days' sales in inventory days
Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume 365 days a year. a. Inventory turnover b. Number of days' sales in inventory days
Chapter1: Financial Statements And Business Decisions
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Inventory analysis

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Inventory Analysis
A company reports the following:
Cost of goods sold
$357,335
Average inventory
64,970
Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the nearest dollar and final answers to
one decimal place. Assume 365 days a year.
a. Inventory turnover
days
b. Number of days' sales in inventory
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