Tater and Pepper Corporation reported sales of $40 million. Tater and Pepper listed $7.3 million of inventory on its balance sheet. Using a 365-day year, how many days did ater and Pepper's inventory stay on the premises? How many times per year did Tater and Pepper's inventory turn over? Note: Round your answers to 2 decimal places. Days' sales in inventory Inventory turnover days times

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Tater and Pepper Corporation reported sales of $40 million. Tater and Pepper listed $7.3 million of inventory on its
balance sheet.
Using a 365-day year, how many days did ater and Pepper's inventory stay on the premises? How many times per year
did Tater and Pepper's inventory turn over?
Note: Round your answers to 2 decimal places.
Days' sales in inventory
Inventory turnover
days
times
Transcribed Image Text:Tater and Pepper Corporation reported sales of $40 million. Tater and Pepper listed $7.3 million of inventory on its balance sheet. Using a 365-day year, how many days did ater and Pepper's inventory stay on the premises? How many times per year did Tater and Pepper's inventory turn over? Note: Round your answers to 2 decimal places. Days' sales in inventory Inventory turnover days times
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