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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): Net Sales Cost of Goods Sold Beginning Inventory Ending Inventory 2016 $5,000 3,900 490 600 2015 $5,060 3,690 410 490 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.) Inventory Turnover Ratio Days to Sel 2016 times per year days 2015 times per year days
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