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Inventory turnover and number of days sales in inventory Financial statement data for years ending December 3 1 for Tango Company follow: Line Item Description
Inventory turnover and number of days sales in inventory
Financial statement data for years ending December for Tango Company follow:
Line Item Description YY
Cost of goods sold $ $
Inventories:
Beginning of year
End of year
Required
a Determine the inventory turnover for Y and Y Round your answers to one decimal place.
Line Item Description YY
Inventory turnover fill in the blank of
fill in the blank of
b Determine the days sales in inventory for Y and Y Use days a year. Round your answers to one decimal place.
Line Item Description YY
Number of days sales in inventory fill in the blank of
days fill in the blank of
days
c Are the changes in inventory turnover and the days sales in inventory from Y to Y favorable or unfavorable?
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