Herberger & Company disclosed the following information in its recent annual report: Year 1 Year 2 Cost of goods sold $20,000,000 $24,000,000 Beginning inventory 2,000,000 4,000,000 Ending inventory 4,000,000 5,000,000 Calculate the company's inventory turnover and days' sales in inventory for both years. Round answers to two decimal places. Use rounded answers for subsequent calculations. Year 1 Inventory turnover Days' sales in inventory X 0 x Year 2 0 x 0 x

Herberger & Company disclosed the following information in its recent annual report: Year 1 Year 2 Cost of goods sold $20,000,000 $24,000,000 Beginning inventory 2,000,000 4,000,000 Ending inventory 4,000,000 5,000,000 Calculate the company's inventory turnover and days' sales in inventory for both years. Round answers to two decimal places. Use rounded answers for subsequent calculations. Year 1 Inventory turnover Days' sales in inventory X 0 x Year 2 0 x 0 x

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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