Chapter 7 HMWK eBook Show Me How 3. TMM.07.03 Inventory Turnover and Days' Sales in Inventory 4. TMM.07.04 Financial statement data for years ending December 31 for Salsa Company follow: : 2017 5. TMM.07.05 2016 Cost of merchandise sold $2,912,700 $3,009,790 6. TMM.07.07 Inventories: 7. PE.07.01.ALGO Beginning of year 489,000 481,900 8. PE.07.02.ALGO End of year 533,000 489,000 a. Determine the inventory turnover for 2017 and 2016. Round to one decimal place. 9. PE.07.03.ALGO Inventory Turnover 10. PE.07.05.ALGO 2017 11. PE.07.08A 20Y6 b. Determine the days' sales in inventory for 2017 and 2016. Assume 365 days a year. Round interim calculations and final answers to one decimal 12. PE.07.08B place. 13. EX.07.12.ALGO Days' Sales in Inventory 14. EX.07.13.ALGO 2017 days Chapter 7 HMWK 2016 days 15. EX.07.20.ALGO c. Does the change in the inventory turnover and the days' sales in inventory from 2016 to 2017 indicate a favorable or an unfavorable trend? Unfavorable 16. EX.07.21.ALGO 17. PR.07.04A Check My Work Previous Next > Next Progress: 12/17 items