Exercise 5-13 Inventory turnover and days' sales in inventory LO A3 The following is Information for Palmer Co. Cost of goods sold Ending inventory 2017 $628,825 97,900 2016 $411,650 88,250 2015 $376,300 93,000 Use the above information to compute Inventory turnover for 2017 and 2016, and its days' sales in inventory at December 31, 2017 and 2016. (a) Use the above information to compute inventory turnover for 2016, and its days' sales in inventory at December 31, 2016. Numerator 1 Denominator Ratio Inventory turnover Days' sales in inventory (b) Use the above information to compute inventory turnover for 2017, and its days' sales in inventory at December 31, 2017. Numerator 1 Denominator Ratio Inventory turnover Days' sales in inventory