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E7-14 Analyzing and Interpreting the Inventory Turnover Ratio LO7-5 Sheldon Inc. is the leading manufacturer of personal computers. In a recent year, it reported the
E7-14 Analyzing and Interpreting the Inventory Turnover Ratio LO7-5 Sheldon Inc. is the leading manufacturer of personal computers. In a recent year, it reported the following in dollars in millions: Net sales revenue $ 61,251 Cost of sales 49,944 Beginning inventory 1,100 Ending inventory 780 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.)
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