Question
September 24, 2022 September 25, 2021 September 26, 2020 Net sales: Products $ 316,199 $ 297,392 $ 220,747 Services 78,129 68,425 53,768 Total net sales
September 24, 2022 September 25, 2021 September 26, 2020 Net sales: Products $ 316,199 $ 297,392 $ 220,747 Services 78,129 68,425 53,768 Total net sales 394,328 365,817 274,515 Cost of sales: Products 201,471 192,266 151,286 Services 22,075 20,715 18,273 Total cost of sales 223,546 212,981 169,559 Gross margin 170,782 152,836 104,956 Operating expenses: Research and development 26,251 21,914 18,752 Selling, general and administrative 25,094 21,973 19,916 Total operating expenses 51,345 43,887 38,668 Operating income 119,437 108,949 66,288 Other income/(expense), net (334) 258 803 Income before provision for income taxes 119,103 109,207 67,091 Provision for income taxes 19,300 14,527 9,680 Net income $ 99,803 $ 94,680 $ 57,411 Earnings per share: Basic $ 6.15 $ 5.67 $ 3.31 Diluted $ 6.11 $ 5.61 $ 3.28 Shares used in computing earnings per share: Basic 16,215,963 16,701,272 17,352,119 Diluted 16,325,819 16,864,919 17,528,214 U.S. $ 147,859 $ 133,803 $ 109,197 China (1) 74,200 68,366 40,308 Other countries 172,269 163,648 125,010 Total net sales $ 394,328.
Compute its inventory turnover and days' sales in inventory for the year ended September 24, 2022.
Comment on your computations - assume an industry average of 15 for inventory turnover and 9 for days' sales in inventory. please help with this question
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