Inventory Analysis

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

	Current Year		Previous Year
Sales	$1,518,400		$1,589,900
Beginning inventories	110,032		101,310
Cost of goods sold	759,200		883,300
Ending inventories	99,632		110,032

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