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PA7-3 (Algo) Calculating and Interpreting the Inventory Turnover Ratio and Days to Sell [LO 7-5] Moz Corporation was founded with the mission of filling every

PA7-3 (Algo) Calculating and Interpreting the Inventory Turnover Ratio and Days to Sell [LO 7-5] Moz Corporation was founded with the mission of filling every home with music. The company reported the following amounts in its financial statements (in millions): 7 Net Sales Cost of Goods Sold Beginning Inventory Ending Inventory Required: 2018 $ 6,100 5,000 520 700 2017 $ 6,160 4,800 510 520 1. Determine the inventory turnover ratio and average days to sell inventory for 2018 and 2017. (Use 365 days in a year. Round your intermediate and final answers to 1 decimal place.) 2018 2017 Inventory Turnover Ratio Days to Sell times per year times per year days days

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