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Inventory Analysis The following data were extracted from the income statement of Keever foc. Current Year Previous Year Sales $1,562,200 $1,629,400 Beginning Inventories 109,632 73,200

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Inventory Analysis The following data were extracted from the income statement of Keever foc. Current Year Previous Year Sales $1,562,200 $1,629,400 Beginning Inventories 109,632 73,200 Cost of goods sold 781,100 905,200 Ending inventories 99,232 109,632 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. Current Year Previous Year 1. Inventory turnover 2. Number of days' sales in inventory days days The inventory turnover has while the number of days' sales in inventory has b. The inventory position of the business has

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