Inventory Turnover and Days' Sales in Inventory The following financial statement data for years ending December 31 for Holland Company are shown below.

' CengageNOWv2 | Dnline tee X '16]9 C' Q G} v2.cengagenow.com/ilm/takeAssignment/takeAssignmentMaln.do?invokr "- U {:7 q Senrrh ' 4! III\\ E: _ Question 1 1 pt A F'. Inventory Turnover and Days' Sales in Inventory The following nancial statement data for years ending December 31 for Holland Company are shown below. 20V4 20Y3 Cost of merchandise sold $1,007,400 $640,794 Inventories: Beginning of year $179,580 $125,560 End of year 258,420 179,580 3. Determine the inventory turnover for 20Y4 and 20Y3. Round to one decimal place. Inventory Turnover 20Y4 20Y3 b. Determine the days' sales in inventory for 20Y4 and 20Y3. Assume 365 days a year. Round interim calculations and nal answers to one decimal place. Days' Sales in Inventory 20Y4 days 20Y3 days c. Does the change in inventory turnover and the days' sales in inventory from 20V3 to 20Y4 indicate a favorable or an unfavorable trend? V ( ) Submit Assignment for Grading 7 11:24AM | Him/2017 E11