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 $3,710,590 $3,853,305

Inventories:

Beginning of year 766,500 744,600

End of year 846,800 766,500

Required

a. Determine the inventory turnover for 20Y7 and 20Y6. Round to one decimal place.

20Y7 20Y6

Inventory turnover

b. Determine the number of days sales in inventory for 20Y7 and 20Y6. Use 365 days and round to one decimal place.

20Y7 20Y6

Number of days sales in inventory

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 $3,710,590 $3,853,305 Inventories: Beginning of year 766,500 744,600 End of year 846,800 766,500 Required a. Determine the inventory turnover for 20Y7 and 20Y6. Round to one decimal place. 20Y7 20Y6 Inventory turnover b. Determine the number of days' sales in inventory for 20Y7 and 20Y6. Use 365 days and round to one decimal place. 2017 20Y6 Number of days' sales in inventory days days