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Inventory Analysis The following data were extracted from the income statement of Keever Inc.: Current Year Previous Year Sales $1,357,800 $1,419,100 Beginning inventories 99,846 73,304

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Inventory Analysis The following data were extracted from the income statement of Keever Inc.: Current Year Previous Year Sales $1,357,800 $1,419,100 Beginning inventories 99,846 73,304 Cost of goods sold 678,900 788,400 Ending inventories 90,246 99,846 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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