Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Days' sales in inventory = ? days Inventory Turnover = ? for the days' sales in inventory, found answer to the nearest whole number. I
Days' sales in inventory = ? days
Inventory Turnover = ?
for the days' sales in inventory, found answer to the nearest whole number.
I will need step by step explanation plus answer .
At the beginning of 2020, Crystal Corp. had inventory of $350,000. During the year, it purchased $220,000 worth of raw materials and sold $500,000 worth of inventory. Determine the inventory turnover ratio and the days' sales in inventory. Do not enter dollar signs or commas in the input boxes. For the days' sales in inventory, round your answer to the nearest whole number. Days' Sales in Inventory = days For the inventory turnover ratio, round your answer to 2 decimal places. Inventory Turnover =Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started