OBJ.7 Inventory turnover and days' sales in inventory PE 7-8A Financial statement data for years ending December 31 for Holland Company follow: EE 7-8 367 how low 20Y4 20Y3 4,504,500 $3,715,200 760,000 788,000 788000 Cost of merchandise sold Inventories FAI Beginning of year End of year 850,000 a. Determine the inventory turnover for 20Y4 and 20Y3 b. Determine the days' sales in inventory for 20Y4 and 20Y3. Use 365 days and round to one decimal place. c. Does the change in inventory turnover and the days' sales in inventory from 20Y3 to 20Y4 indicate a favorable or an unfavorable trend