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Cost of goods sold Ending inventory Year 3 $ 643,825 96,400 Year 2 $ 426,650 86,750 Year 1 $ 391,300 91,500 Use the above

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Cost of goods sold Ending inventory Year 3 $ 643,825 96,400 Year 2 $ 426,650 86,750 Year 1 $ 391,300 91,500 Use the above information to compute inventory turnover for Year 3 and Year 2, and its days' sales in inventory at December 31, Year 3 and Year 2. From Year 2 to Year 3, did Palmer improve its (a) inventory turnover and (b) days' sales in inventory? Use the above information to compute inventory turnover for Year 2, and its days' sales in inventory at December 31, Year 2. Inventory turnover Days' sales in inventory Numerator Denominator Ratio 0 0 Use the above information to compute inventory turnover for Year 3, and its days' sales in inventory at December 31, Year 3. Inventory turnover Days' sales in inventory Numerator Denominator Ratio 0 0 Did Palmer improve its (a) inventory turnover from Year 2 to Year 3 and (b) days' sales in inventory from Year 2 to Year 3? (a) Did Palmer improve its inventory turnover from Year 2 to Year 3? (b) Did Palmer improve its days' sales in inventory from Year 2 to Year 3?

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