1 * COX https:/N2.cengagenow.com/takeAsignment/takeAssignment Main.doinvokerStake AssignmentSessionLocator Binpro.. Inventor De year 770,000 70,000 340,000 770,000 Required a. Determine the inventory turnover for 2017 and 2046. Round to one decimal place 2017 2016 Inventowy tumeve b. Determine the number of days sales in inventory for 2017 and 2016. Us 365 days and round to one decimal place. 2012 2016 Number of days' sales in inventory days days c. Are the changes in inventory turnover and the number of days sales in inventory from 2015 to 2047 favorable or unfavorable Unfavorable a the inventory turnover ratio indicates how many times a company has sold and replaced inventory during a period. The inventory ratio is calculated by dividing the cost of goods sold for a period by the average inventory for that period b. Number of days sales in inventory indicates the average time required for a company to convert its inventory into sales. The cale the oumber of days in Inventory is the average Inventory for that period divided by the averige daily cost of goods sold A high ratio implies the strong sales or large discounts Check My Work Previou ECO 2000. docx Midterm Exame doo o AP 1 * COX https:/N2.cengagenow.com/takeAsignment/takeAssignment Main.doinvokerStake AssignmentSessionLocator Binpro.. Inventor De year 770,000 70,000 340,000 770,000 Required a. Determine the inventory turnover for 2017 and 2046. Round to one decimal place 2017 2016 Inventowy tumeve b. Determine the number of days sales in inventory for 2017 and 2016. Us 365 days and round to one decimal place. 2012 2016 Number of days' sales in inventory days days c. Are the changes in inventory turnover and the number of days sales in inventory from 2015 to 2047 favorable or unfavorable Unfavorable a the inventory turnover ratio indicates how many times a company has sold and replaced inventory during a period. The inventory ratio is calculated by dividing the cost of goods sold for a period by the average inventory for that period b. Number of days sales in inventory indicates the average time required for a company to convert its inventory into sales. The cale the oumber of days in Inventory is the average Inventory for that period divided by the averige daily cost of goods sold A high ratio implies the strong sales or large discounts Check My Work Previou ECO 2000. docx Midterm Exame doo o AP