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Norfolk Communications reported the following figures in its annual financial statements: (Click the icon to view the figures.) Compute the rate of inventory turnover and
Norfolk Communications reported the following figures in its annual financial statements: (Click the icon to view the figures.) Compute the rate of inventory turnover and days' sales in inventory for Norfolk Communications. (Round to two decimal places.) .... Select the labels and enter the amounts to compute the inventory turnover. (Enter the amount for average inventory to one decimal place, X.X. Round your answer to two decimal places, X.XX.) = Inventory turnover times Select the labels and enter the amounts to compute the days' sales in inventory for the year. (Round your answer to two decimal places, X.XX.) = Days' sales in inventory / days - Data table $ 18,100 Cost of Goods Sold Beginning Merchandise Inventory Ending Merchandise Inventory 520 460 Print Done
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