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Sorenson Inc. has sales of $4,056,000, a gross profit margin of 38.55 percent, and inventory of $1,139,000. What are the companys inventory turnover ratio and
Sorenson Inc. has sales of $4,056,000, a gross profit margin of 38.55 percent, and inventory of $1,139,000. What are the companys inventory turnover ratio and days sales in inventory?(Round inventory turnover ratio to 3 decimal places, e.g. 12.555 and days' sales in inventory to 1 decimal place, e.g. 12.5. Use 365 days for calculation.)
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