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5. PE.17-05.ALGO (Algorithmic) Inventory Analysis A company reports the following: Cost of goods sold $536,550 Average inventory 71,540 Determine (a) the inventory turnover and (b)
5. PE.17-05.ALGO (Algorithmic) Inventory Analysis A company reports the following: Cost of goods sold $536,550 Average inventory 71,540 Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume 365 days a year a. Inventory turnover b. Number of days' sales in inventory days
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