Need help finding the inventory turnover ratio and days to sell

UW DOES Neutro elemet 59,00 Accounts Receivable 1,920 Inventory 400 Pred Rent 660 pent 860 Accumulated Depreciation 90 Accounts Payable 1,30 Salaries and get Payable 300 Income To Payable Comon stock 5.000 Netained Earnings 2.700 Sales Revende 14,220 Cost of Goods Sold 7,710 Rent Expense 1.210 Salaries and ages Expense 1.700 Depreciation Expense 90 Income Tax Expense 0 Office Expense 1.300 The company buys coasters from one supplier. All amounts in Accounts Payable on December 1 are owed to that supplier The Inventory on December 1 consisted of 800 coasters, all of which were purchased in a batch on July 10 at a unit cost of $0.50. College Coasters records its inventory using perpetual inventory accounts and the FIFO cost flow method During December, the company entered into the following transactions. Some of these transactions are explained in greater detall below a. Purchased 400 coasters on account from the regular supplier on 124 at a unit cost of $0.52 with terms of n/60 b Purchased 900 coasters on account from the regular supplier on 12/2 at a unit cost of $0.55, with terms of n/60 Sold 1900 coasters on account on 12/3 at a unit price of $110 d. Collected 5830 from customers on account on 1234 e Paid the supplier $1.580 cash on account on 12/18 Pald employees 5450 on 12/23, of which $260 related to work done in November and $190 was for wages up to December 22 9.Loaded 90 coasters on a cargo ship on 12/31 to be delivered the following week to a customer in Kona, Hawaii. The sale was made FOB destination with terms of 1/60 Other relevant information includes the following at 12/31 h College Coasters has not yet recorded $170 of office expenses incurred in December on account The company estimates that the equipment depreciates at a rate of $9 per month One month of depreciation needs to be recorded Wages for the period from December 23-31 are $100 and will be paid on January 15 k The S660 of Prepaid Rent relates to a six-month period ending on May 31 of next year. The company incurred $700 of income tax but has made no tax payments this year. No shrinkage or damage was discovered when the inventory was counted on December 31 n. The company did not declare dividends and there were no transactions involving common stock Answer is complete but not entirely correct. Hequirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis Calculate the inventory turnover ratio and days to sell, assuming that inventory was 5400 on January 1 of this year. (Use 365 days a year. Round your intermediate calculations and final answers to 1 decimal place.) Inventory mover 209 mes per year Ratio Days to Sell 175 days Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis Use the dropdowns to select the accounts properly included on the balance sheet. The unadjusted, balances will appear for each account, based on your selection. However, you will need to enter the (Net of accumulated depreciation), Common stock and Retained earnings as of December 31. Adjusted COLLEGE COASTERS Balance Sheet As of December 31 Assets Current Assets Cash SIS Accounts Receivable 8,100 3,180 110 550 11,940 761 12,701 633 Inventory Prepaid Rent Total Current Assets Equipment Total Assets Liabilities and Stockholders' Equity Current Liabilities Accounts Payable Salaries and Wages Payable Income Taxes Payable Total Liabilities Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 140 700 1.473 6,000 5,228 11,228 12,701 DS $ General Journal Trial Balance Balance S Income Statement General Ledger Requirement Choose the appropriate accounts to be reported on the income statement. Select then populate the balances in those accounts from the trial balance. However, ly of the net income or loss for the year ended December 31. Adjusted COLLEGE COASTERS Income Statement For the Year Ended December 31 Revenues: Sales Revenue 16,310 8,203 8,107 $ Cost of Goods Sold Gross Profit Operating Expenses Rent Expense Salaries and Wages Expense Depreciation Expense Office Expenses 1,320 1,990 99 1,470 0 $ Total Operating Expenses Income before Income Tax Expense Income Tax Expense Net Income DOO 4,879 3,228 700 2,528 $ NE 1 December Oo Accounts Payable . 2 December 02 Inventory Accounts Payable 195 2.000 3 December Accounts Receivable Sales Revenue 2010 993 4 December Cost of Goods Sold Inventory lo 993 830 5 December 04 Cash 830 Accounts Receivable 00 00 1580 6 December 15 Accounts Payable Cash 1500 2 December 23 Salaries and Wages Payable Salaries and Wages Expense Cash OOO 260 190 250 B December 31 No Soumal Entry Required 9 December 31 170 Otice Expenses Accounts Payable 170 10 December 31 90 Depreciation Expense Accumulated Depreciation-Equipment 9g 11 December 31 100 Salaries and Wages Expense Salaries and Wages Payable 00 100 12 December 31 Rent Expense 110 Prepaid Rent 110 13 December 31 700 Income Tax Expense Income Taxes Payable 700 14 December 31 No Journal Entry Required 15 December 31 No Journal Entry Required