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Inventory Turnover and Days' Sales in Inventory The Southwestern States Corporation installed a new inventory management system at the beginning of 2018. The company reported
Inventory Turnover and Days' Sales in Inventory The Southwestern States Corporation installed a new inventory management system at the beginning of 2018. The company reported an inventory turnover of 1.80 in 2018. Shown below are data from the Southwestern States' accounting records as reported by the new system: 2018 2019 Sales Revenue $49,000,000 $42,000,000 Cost of goods sold 30,000,000 29,500,000 Beginning inventory 16,250,000 16,500,000 Ending inventory 17,000,000 20,500,000 Support Calculate the company's (a) inventory turnover and (b) days' sales in inventory for 2018 and 2019. Round your answer to two decimal points. 2018 2019 Inventory turnover 0 Days' sales in inventory 0 0 0
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