E7-14 (Algo) Analyzing and Interpreting the Inventory Turnover Ratio L07-5 Jetz is the leading manufacturer of personal computers. In a recent year, it reported the following in dollars in millions Net sales revenge Cost of sales Beginning inventory Ending inventory $ 76,221 58,944 1.860 1,840 Required: Determine the inventory turnover ratio and average days to sell inventory for the current year. (Use 365 days a year Round your Intermediate calculations and final answers to 2 decimal places.) Invertory turnover Average days to so inventory Saved E7-15 (Algo) Analyzing and Interpreting the Effects of the LIFO/FIFO Choice on Inventory Turnover Ratio LO7-5, 7-6 The records at the end of January of the current year for Young Company showed the following for a particular kind of merchandise Beginning Inventory at FIFO: 16 Units Beginning Inventory at UFO: 16 Units $19 - $304 $15 - $240 Units Coat January Transactions Purchase, January Purchase, January 20 Sale, January 21 (at 541 per unit) Sale, Janar 27 (at $42 per it) Total Cost 30 Required: 1. Compute the inventory turnover ratio for the month of January under the FFO and UFO inventory costing methods 2. Which costing method is the more accurate indicator of the efficiency of inventory management Complete this question by entering your answers in the tabs below Required 1 Required 2 Compute the inventory turnover ratio for the month of January under the PIPO and LIPO Inventory costing methods. Do not round intermediate ciculations and round your awers to 2 decimal places.) UFO weniory over at Required 2 > E7-15 (Algo) Analyzing and Interpreting the Effects of the LIFO/FIFO Choice on Inventory Turnover Ratio LO7-5, 7-6 The records at the end of January of the current year for Young Company showed the following for a particular kind of merchandise Beginning Inventory at FIFO: 16 Units Beginning Inventory at LIFO: 16 Units $19 - $304 $15 $240 Unit Total Coat Jay Transactions Purchase, January Purchase. January 20 Sale, January 21 (at 41 per unit) Sale, January 27 (at 442 per unit) 517 1.146 28 Required: 1. Compute the inventory turnover ratio for the month of January under the FIFO and LIFO inventory costing methods 2. Which costing method is the more accurate indicator of the efficiency of inventory management? Complete this question by entering your answers in the tabs below. Required 1 Requiree 2 Which costing method is the more accurate indicator of the efficiency of inventory management? ciency of inventory management? FIFO