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cer 7 Homework i ook nt Saved Help PA7-3 (Algo) Calculating and Interpreting the Inventory Turnover Ratio and Days to Sell [LO 7-5] Foster
cer 7 Homework i ook nt Saved 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): Net Sales Cost of Goods Sold Beginning Inventory Ending Inventory Required: 2018 $ 4,800 3,700 470 580 2017 $ 4,860 3,610 430 470 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.) 2018 2017 Inventory Turnover Ratio times per year times per year Days to Sell days days
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