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Haymitch Global Industries is a world leading producer of loudspeakers and other electronics products, which are sold under brand names like JRH, Excelsior, and Haymitch/Krug.

Haymitch Global Industries is a world leading producer of loudspeakers and other electronics products, which are sold under brand names like JRH, Excelsior, and Haymitch/Krug. The company reported the following amounts in its financial statements (in millions):

2016 2015
Net Sales $ 4,900 $ 4,960
Cost of Goods Sold 3,800 3,550
Beginning Inventory 480 400
Ending Inventory 590 480

Required:

  1. Determine the inventory turnover ratio and average days to sell inventory for 2016 and 2015. (Use 365 days in a year. Round your intermediate and final answers to 1 decimal place.)

2016 2015
Inventory Turnover Ratio times per year times per year
Days to Sell days days

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