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Inventory Analysis The following data were extracted from the income statement of Keever Inc.: Current Year Previous Year Sales $1,182,600 $1,235,200 Beginning inventories 63,912 53,580

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Inventory Analysis The following data were extracted from the income statement of Keever Inc.: Current Year Previous Year Sales $1,182,600 $1,235,200 Beginning inventories 63,912 53,580 Cost of goods sold 591,300 686,200 Ending inventories 57,912 63,912 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 b. The inventory position of the business has The inventory turnover has while the number of days' sales in inventory has

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