At December 31 of a recent year, the following information (in thousands) was available for sunglasses manufacturer Oakley, Inc ending inventory $155,377 beginning inventory $119,035 cost of goods sold $349,114 and sales revenue $761,865 Calculate the inventory turnover ratio and days in inventory ...

At December 31 of a recent year, the following information (in thousands) was available for sunglasses manufacturer

Question:

At December 31 of a recent year, the following information (in thousands) was available for sunglasses manufacturer Oakley, Inc.: $155,377; beginning inventory $119,035; cost of goods sold $349,114; and sales revenue $761,865. Calculate the and days in inventory for Oakley, Inc.

Inventory Turnover Ratio
Inventory Turnover RatioThe inventory turnover ratio is a ratio of cost of goods sold to its average inventory. It is measured in times with respect to the cost of goods sold in a year normally. Inventory Turnover Ratio FormulaWhere,... Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...