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PA7-3 (Algo) Calculating and Interpreting the Inventory Turnover Ratio and Days to Sell [LO 7-5] Thomas Tones Incorporated was founded with the mission of filling
PA7-3 (Algo) Calculating and Interpreting the Inventory Turnover Ratio and Days to Sell [LO 7-5] Thomas Tones Incorporated was founded with the mission of filling every home with music. The company reported the following amounts in its financial statements (in millions): Required: 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.)
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