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Sonos, Incorporated, was founded with the mission of filling every home with music. The company reported the following amounts in its financial statements (in millions):
Sonos, Incorporated, was founded with the mission of filling every home with music. The company reported the following amounts in its financial statements (in millions): Net Sales Cost of Goods Sold Beginning Inventory Ending Inventory 2018 $ 1,140 Inventory Turnover Ratio Days to Sell 650 115 195 2017 $990 Required: 1. Determine the inventory turnover ratio and average days to sell inventory for 2018 and 2017. (Use 365 days in a year. Round your intermediate and final answers to 1 decimal place.) 2018 times per year days 540 55 115 2017 times per year days Sonos, Incorporated, was founded with the mission of filling every home with music. The company reported the following amounts in its financial statements (in millions): Required: 1. Determine the inventory turnover ratio and average days to sell inventory for 2018 and 2017 . (Use 365 days in a year. Round your intermediate ond final answers to 1 decimal place.)
Sonos, Incorporated, was founded with the mission of filling every home with music. The company reported the following amounts in its financial statements (in millions): Net Sales Cost of Goods Sold Beginning Inventory Ending Inventory 2018 $ 1,140 Inventory Turnover Ratio Days to Sell 650 115 195 2017 $990 Required: 1. Determine the inventory turnover ratio and average days to sell inventory for 2018 and 2017. (Use 365 days in a year. Round your intermediate and final answers to 1 decimal place.) 2018 times per year days 540 55 115 2017 times per year days
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