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How do I calculate number of days sales in inventory for current year and preceding year ignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false D The following data are taken from the

How do I calculate number of days sales in inventory for current year and preceding year

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ignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false D The following data are taken from the financial statements: Current Preceding Year Year Net sales $3,592,000 $4,056,000 Cost of goods sold 2,092,000 2,656,000 Average monthly inventory 332,000 328,000 Inventory, end of year 372,000 347,000 a. Determine for each year (1) the inventory turnover and (2) the days' sales in inventory. Round inventory turnover answers to one decimal place and number of days' sales in inventory, (including intermediate calculations) to two decimal places. Current Year Preceding Year 1. Inventory turnover 6.3 8.1 2. Number of days' sales in inventory X X

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