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eBook Show Me How Question Content Area Inventory Analysis The following data were extracted from the income statement of Keever Inc.: Current Year Previous Year
eBook Show Me How Question Content Area Inventory Analysis The following data were extracted from the income statement of Keever Inc.: Current Year Previous Year Sales $1,401,600 $1,458,500 Beginning inventories 80,792 92,344 Cost of goods sold 700,800 810,300 Ending inventories 73,192 80,792 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 fill in the blank 1 fill in the blank 2 2. Number of days' sales in inventory fill in the blank 3 days fill in the blank
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