Exercise 6-19 (Algo) Inventory turnover and days' sales in inventory LO A3 The following is information for Palmer Company. Cost of goods sold Year 3 $ 633,825 Ending inventory 97,400 Year 21 $ 416,650 87,750 Year 1 $ 381,300 92,500 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. From Year 2 to Year 3, did Palmer improve its (a) inventory turnover and (b) days' sales in inventory? Use the above information to compute inventory turnover for Year 2, and its days' sales in inventory at December 31, Year 2. Inventory turnover Days' sales in inventory Numerator Denominator Ratio Use the above information to compute inventory turnover for Year 3, and its days' sales in inventory at December 31, Year 3. Inventory turnover Days' sales in inventory Numerator Denominator Ratio 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 Year 2 to Year 3? < Prev 6 of 11 Next