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Inventory Analysis The following data were extracted from the income statement of Keever Inc.: Previous Year Current Year $801,500 $773,800 Sales 38,812 Beginning inventories 41,114

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Inventory Analysis The following data were extracted from the income statement of Keever Inc.: Previous Year Current Year $801,500 $773,800 Sales 38,812 Beginning inventories 41,114 386,900 445,300 Cost of goods sold 41,114 Ending inventories 37,114 a. Determine for each year (1) the invdntory 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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