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anyone can help? PA7-3 (Algo) Calculating and Interpreting the Inventory Turnover Ratio and Days to Sell [LO 7-5) Foster & Kelly was founded with the
anyone can help?
PA7-3 (Algo) Calculating and Interpreting the Inventory Turnover Ratio and Days to Sell [LO 7-5) Foster & Kelly was founded with the mission of filling every home with music. The company reported the following amounts in its financial statements (in millions): 2018 2017 Net Sales $ 4,800 $ 4,860 Cost of Goods Sold 3,700 3,618 Beginning Inventory 470 430 Ending Inventory 580 470 Required: 1. Determine the inventory turnover ratio and average days to sell inventory for 2018 and 2017. (Use 365 days in a year. Round your Intermediate and final answers to 1 decimal place.) 2017 Inventory Tumover Ratio Days to Sell 2018 times per year days times per year days Step by Step Solution
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