Inventory Analysis

A company reports the following:

Cost of goods sold	$512,460
Average inventory	78,840

Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume 365 days a year.

a. Inventory turnover
b. Number of days' sales in inventory	days

Times interest earned

A company reports the following:

Income before income tax	$3,078,800
Interest expense	172,000

Determine the times interest earned ratio. If required, round the answer to one decimal place.