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Sorenson Inc. has sales of $3,112,489, a gross profit margin of 23.1 percent, and inventory of $833,145. What are the company's inventory turnover ratio and
Sorenson Inc. has sales of $3,112,489, a gross profit margin of 23.1 percent, and inventory of $833,145. What are the company's inventory turnover ratio and days' sales in inventory? (Use 365 days: for calculation. Round inventory turnover ratio to 3 decimal places, e.g. 12.555 and days in inventory to 1 decimal places, e.g. 12.5.) Sorenson's inventory turnover ratio is times and its days' sales in inventory is days
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