Q10

Happy Day reported the following income statement for the year ended December 31, 2025: (Click the icon to view the income statement.) Requirements 1. Compute Happy Day's inventory turnover rate for the year. (Round to two decimal places.) 2. Compute Happy Day's days' sales in inventory for the year. (Round to two decimal places.) Requirement 1. Compute Happy Day's inventory turnover rate for the year. (Round to two decimal places.) Select the labels and enter the amounts to compute the inventory turnover rate. (Round your answer to two decimal places, X.XX.) ][]=Inventoryturnover[]=times Happy Day Income Statement Year Ended December 31, 2025 Net Sales Revenue Cost of Goods Sold: Beginning Merchandise Inventory Plus: Net Cost of Inventory Purchased Cost of Goods Available for Sale Less: Ending Merchandise Inventory Cost of Goods Sold Gross Profit Operating Expenses Net Income $130,000 $12,40066,00078,40017,400 61,00069,00042,700$26,300