View Policies Current Attempt in Progress Information on the activities of Sunland Toys Ltd. is as follows: Cost of goods sold Average inventory 2020 $894.190 131,190 2021 $1,048,770 154,830 2022 $1,195,670 196,170 2023 $1,372,140 319,480 2024 $1,416,460 444,520 (a) Do a trend analysis of the inventory turnover for each year. Also calculate the days to sell inventory ratio for the respective years. (Round inventory turnover to 2 decimal places, e.g. 18.42 and number of days to 1 decimal place, e.g. 13.6.)

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.