Yoga Day reported the following income statement for the year ended December 31, 2026: 

Requirements 

1. Compute Yoga Day’s inventory turnover rate for the year. (Round to two decimal places.) 

2. Compute Yoga Day’s days’ sales in inventory for the year. (Round to two decimal places.)

Transcribed Image Text:

Net Sales Revenue Cost of Goods Sold: YOGA DAY Income Statement Year Ended December 31, 2026 Beginning Merchandise Inventory Plus: Net Cost of Inventory Purchased Cost of Goods Available for Sale Less: Ending Merchandise Inventory Cost of Goods Sold Gross Profit Operating Expenses Net Income $ 10,080 63,840 73,920 14,880 $ 144,000 59,040 84,960 55,224 $ 29,736