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Do It! Review 6-3b Early in 2017, Sheridan Company switched to a just-in-time Inventory system. Its sales and Inventory amounts for 2016 and 2017 are
Do It! Review 6-3b Early in 2017, Sheridan Company switched to a just-in-time Inventory system. Its sales and Inventory amounts for 2016 and 2017 are shown below. Sales revenue Cost of goods sold Beginning Inventory Ending Inventory 2016 $3,418,670 1,090,200 165,030 209,700 2017 $4,044,640 1,421,790 209,700 95,590 Determine the inventory turnover for 2016 and 2017. (Round answers to 1 decimal place, c.9. 5.1.) 2016 2017 Inventory turnover Determine the days in inventory for 2016 and 2017. (Round answers to 1 decimal place, e.g. 5.1.) 2016 2017 Days in Inventory days days Question Atten
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