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Inventory turnover and number of days' sales in inventory Financial statement data for years ending December 31 for Tango Company follow: 20Y7 20Y6 Cost
Inventory turnover and number of days' sales in inventory Financial statement data for years ending December 31 for Tango Company follow: 20Y7 20Y6 Cost of goods sold $3,777,750 $4,158,810 Inventories: Beginning of year End of year 781,100 861,400 759,200 781,100 a. Determine the inventory turnover for 20Y7 and 20Y6. Round your answers to one decimal place. 20Y7 20Y6 Inventory turnover b. Determine the days' sales in inventory for 20Y7 and 20Y6. Use 365 days a year. Round your answers to one decimal place. Number of days' sales in inventory 20Y7 20Y6 days days c. Are the changes in inventory turnover and the number of days' sales in inventory from 20Y6 to 20Y7 favorable or unfavorable?
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