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Inventory Analysis A company reports the following: Cost of goods sold$353,320Average inventory88,330 Determine (a) theinventory turnoverand (b) thenumber of days' sales in inventory. Round interim
Inventory Analysis
A company reports the following:
Cost of goods sold$353,320Average inventory88,330
Determine (a) theinventory turnoverand (b) thenumber 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 turnoverb.Number of days' sales in inventorydays
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