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Inventory Analysis The following data were extracted from the income statement of Keever Inc.: Previous Year Sales Beginning inventories Cost of goods sold Current
Inventory Analysis The following data were extracted from the income statement of Keever Inc.: Previous Year Sales Beginning inventories Cost of goods sold Current Year $1,606,000 70,180 803,000 63,580 $1,681,900 91,172 934,400 70,180 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 dolla days a year. Current Year Previous Year
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