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Invernory Analysis The following data were extracted from the income statement of Keever Inc. Sales Beginning inventories Cost of goods s Ending inventories Current
Invernory Analysis The following data were extracted from the income statement of Keever Inc. Sales Beginning inventories Cost of goods s Ending inventories Current Year $832,200 59,458 410,100 $3,858 Previous Year $867,200 45,500 481,800 59,458 a. Determine for each year (1) the inventory turnover and (2) the number of days sales in inventory, Round interim calculations to the nearest dollar and the final answers to one decimal place. Assume 365 days a year. 1. Inventory turnover Current Year Previous Year 2. Number of days' sales in inventory days days b. The inventory position of the business has The inventory turnover has while the number of days sales in inventory has
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