Exercise 6-19 (Algo) Inventory turnover and days' sales in inventory LO A3 The following is information for Palmer Company, Year 3 Year 2 Year 1 Cost of goods sold $ 618,825 $ 401,650 $ 366,300 Ending inventory 98,900 89,250 94,000 Use the above information to compute inventory turnover for Year 3 and Year 2, and its days soles in inventory ot December 31, Year 3 and Year 2. From Year 2 to Year 3, did Palmer improve its (a) inventory turnover and (b) days' sales in Inventory? Ratio 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 Inventory turnover Days' sales in inventory 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 Did Palmer Improve its (a) inventory turnover from Year 2 to Year 3 and (b) days' sales in inventory from Year 2 to Year 3? (a) Did Palmer improve its inventory turnover from Yoar 2 to Yoar 32 (b) Did Palmer improve its days' sales in Inventory from Year 2 to Year 37