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Current Year Previous Year Sales $1,226,400 $1,274,600 Beginning inventories 68,048 91,234 Cost of goods sold 613,200 708,100 Ending inventories 61,648 68,048 a. Determine for each
Current Year Previous Year Sales $1,226,400 $1,274,600 Beginning inventories 68,048 91,234 Cost of goods sold 613,200 708,100 Ending inventories 61,648 68,048 a. Determine for each year (1) the inventory turnover and (2) the number of days' sales in inventory. Round interim calculations to the nearest dollar and the final answers to one decimal place. Assume 365 days a year. Current Year Previous Year 1. Inventory turnover 2. Number of days' sales in inventory days days b. The inventory position of the business has . The inventory turnover has while the number of days' sales in inventory has
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