help me ✓a. (1) Inventoryturnover, current year, 9.0SHOWME HOWEX 14-11 Inventory analysisThe following data were extracted from the income statement of Keever Inc.:Current YearPrevious Year$18,500,000$20,000,000940,000860,0009,270,00010,800,0001,120,000940,000SalesBeginning inventoriesCost of goods soldEnding inventoriesObj.3a. Determine for each year (1) the inventory turnover and (2) the days' sales in inventory. Roundto one decimal place.b.What conclusions can be drawn from these data concerning the inventories?

Cost of goods sold The amount of inventory that is sold by a company is classified as cost of goods…

The following data were extracted from the income statement of Keever Inc.: Current Year Previous Year $20,000,000 860,000 10,800,000 940,000 Sales Beginning inventories Cost of goods sold Ending inventories b. $18,500,000 940,000 9,270,000 1,120,000 a. Determine for each year (1) the inventory turnover and (2) the days' sales in inventory. Round to one decimal place. What conclusions can be drawn from these data concerning the inventories?

The following data were extracted from the income statement of Keever Inc.: Current Year Previous Year $20,000,000 860,000 10,800,000 940,000 Sales Beginning inventories Cost of goods sold Ending inventories b. $18,500,000 940,000 9,270,000 1,120,000 a. Determine for each year (1) the inventory turnover and (2) the days' sales in inventory. Round to one decimal place. What conclusions can be drawn from these data concerning the inventories?

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 11E

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