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PA7-3 (Static) Calculating and interpreting the Inventory Turnover Ratio and Days to Sell [LO 7-5) Sonos, Incorporated, was founded with the mission of filing every

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PA7-3 (Static) Calculating and interpreting the Inventory Turnover Ratio and Days to Sell [LO 7-5) Sonos, Incorporated, was founded with the mission of filing every home with music. The company reported the following amounts in its financial statements (in millions): 2018 Net Salen 5 1,140 Cost of Goods Sold 650 Beginning Inventory 115 Anding Inventory 195 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.) 2017 $ 990 560 55 115 2018 Inventory Turnover Ratio Days to Sell times per year days 2017 times per year days

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