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Question 7 Not complete Marked out of 5.00 F Flag question Inventory Turnover and Days' Sales in Inventory The Northern Company installed a new inventory
Question 7 Not complete Marked out of 5.00 F Flag question Inventory Turnover and Days' Sales in Inventory The Northern Company installed a new inventory management system at the beginning of Year 1. Shown below are data from the company's accounting records as reported by the new system: Year 1 Year 2 Sales revenue $18,000,000 $22.000.000 Cost of goods sold 10,000,000 11.800.000 Beginning inventory 900.000 945.000 Ending inventory 945,000 1.050.000 Calculate the company's (a) inventory turnover and (b) days' sales in inventory for both years. Round to two decimals. Use the rounded answers in your calculations. Year 1 Year 2 0 (a) Inventory turnover (b) Days' sales in inventory 0
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