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Problem 3 - 4 Calculating Inventory Turnover [ LO 2 ] The Top Corporation has ending inventory of $ 4 6 3 , 0 0

Problem 3-4 Calculating Inventory Turnover [LO2]
The Top Corporation has ending inventory of $463,000, and cost of goods sold for the year just ended was $4,329,050.
a. What is the inventory turnover? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g.,32.16.)
b. What is the days' sales in inventory? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g.,32.16.)
c. How long on average did a unit of inventory sit on the shelf before it was sold? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g.,32.16.)
\table[[a. Inventory turnover,,times],[b. Days' sales in inventory,,days],[c. Inventory days on shelf,,days]]
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