Inventory Analysis The following data were extracted from the income statement of Keever Inc.:

Inventory Analysis The following data were extracted from the income statement of Keever Inc. Current Yea Previous Year Sales Beginning inventories Cost of goods sold Ending inventories a. Determine for each year (1) the inventory turnover and (2) the number of days' sales in inventory. Round interim calculations to the nearest dollar and the final answers to one decimal place. Assume 365 days a year. $1,197,200 85,608 598,600 77,408 $1,248,300 52,780 693,500 85,608 Current Year Previous Year 1. Inventory turnover 2. Number of days' sales in inventory b. The inventory position of the business has days' sales in inventory has days days The inventory turnover has while the number of