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Inventory Analysis The following data were extracted from the income statement of Brecca Systems Inc. Current Year Previous Year Sales Beginning inventories Cost of goods
Inventory Analysis The following data were extracted from the income statement of Brecca Systems Inc. Current Year Previous Year Sales Beginning inventories Cost of goods sold 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 dollar and the final answers to one decimal place. Assume 365 days a year, $1,143,200 57,118 635,100 68,400 $1,095,000 68,400 547,500 61,800 Current Yea Previous Year 1. Inventory turnover 2. Number of days' sales in inventory b. The inventory position of the business has sales in inventory has days days . The inventory turnover has ,while the number of days
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