To answer the following questions, use the following information. Round to 1 decimal place for percentages. 2018 2017 2016 Cost of merchandise sold 20,441 19,038 17,405 Inventories 5,261 5,055 4,838 Required: A. Calculate the inventory turnover for the Years 2017 and 2018. B. Calculate the days' sales in inventory for the Years 2017 and 2018.
To answer the following questions, use the following information. Round to 1 decimal place for percentages. 2018 2017 2016 Cost of merchandise sold 20,441 19,038 17,405 Inventories 5,261 5,055 4,838 Required: A. Calculate the inventory turnover for the Years 2017 and 2018. B. Calculate the days' sales in inventory for the Years 2017 and 2018.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:To answer the following questions, use the following information. Round to 1 decimal place for percentages.
2018
2017
2016
Cost of merchandise sold
20,441
19,038
17,405
Inventories
5,261
5,055
4,838
Required:
A. Calculate the inventory turnover for the Years 2017 and 2018.
B. Calculate the days' sales in inventory for the Years 2017 and 2018.
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