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please help solve and show work thank u PA7-3 (Algo) Calculating and Interpreting the Inventory Turnover Ratio and Days to Sell (LO 7-5) Global Sound
please help solve and show work thank u
PA7-3 (Algo) Calculating and Interpreting the Inventory Turnover Ratio and Days to Sell (LO 7-5) Global Sound was founded with the mission of filling every home with music. The company reported the following amounts in its financial statements (in millions): 2018 2017 Net Sales $ 5,200 $ 5,260 Cost of Goods Sold 4,100 4,600 Beginning Inventory 520 430 Ending Inventory 590 520 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 times per year Inventory Turnover Ratio Days to Sell 2018 times per year days days Step by Step Solution
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