Chapter 7 HMWK eBook Show Me How 3. TMM.07.03 Inventory Turnover and Days' Sales in Inventory Financial statement data for years ending December 31 for Amsterdam Company follow: 4. TMM.07.04 2014 20Y3 * * * 5. TMM.07.05 Cost of merchandise sold $3,598,900 $3,015,630 6. TMM.07.07 Inventories: Beginning of year 7. PE.07.01.ALGO 593,000 589,600 End of year 648,000 593,000 8. PE.07.02.ALGO a. Determine the inventory turnover for 2014 and 20Y3. Round to one decimal place. 9. PE.07.03.ALGO Inventory Turnover 10. PE.07.05.ALGO 2014 20Y3 11. PE.07.08A 12. PE.07.08B b. Determine the days' sales in inventory for 2014 and 2013. Assume 365 days a year. Round interim calculations and final answers to one decimal place. 13. EX.07.12.ALGO Days' Sales in Inventory 14. EX.07.13.ALGO 20Y4 days 15. EX.07.20.ALGO 20Y3 days 16. EX.07.21.ALGO c. Does the change in the inventory turnover and the days' sales in inventory from 2013 to 2044 indicate a favorable or an unfavorable trend? Favorable 17. PR.07.04A Check My Work Previous Next Progress: 11/17 items