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Problem 7-9: The Hyndland Corporation The following information was available for the Hyndland Corporation on December 31, 2018: 2016 2017 2018 Year Cost of Goods
Problem 7-9: The Hyndland Corporation The following information was available for the Hyndland Corporation on December 31, 2018: 2016 2017 2018 Year Cost of Goods Sold 3600 7200 2400 Inventory 110 700 600 Required 1. Calculate Inventory Turnover in 2018 (round to 2 decimal places). 2. Calculate the average days of inventory on hand in 2017. Assume a 365 day year and round all results to the nearest day. 3. Calculate the average days of inventory on hand 2018. Assume a 365 day year and round all results to the nearest day. Upon completion, enter your answers below (2 decimal places): Inventory Tover (2018): Days Inventory on Hand (2017): Days Inventory on Hand (2018)
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