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 Year 3 $563,825 104,400 Year 2 $346,650 94.250 Year 1 $311,300 99.500 Use the above information to compute inventory turnover for year 3 and year 2, and its days' sales in inventory at December 31, year 3 and year 2 (a) Use the above information to compute inventory turnover for year 2, and its days' sales in inventory at December 31, year 2. Numerator 1 Denominator = Ratio Inventory turnover Days' sales in inventory (b) Use the above information to compute inventory turnover for year 3, and its days' sales in inventory at December 31, year 3. Numerator 1 Denominator - Ratio Inventory turnover Days' sales in inventory