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The following data are from the income statements of Haskin Company. 2016 $6,240,000 860,000 4,661,000 940,000 2017 Sales revenue Beginning inventory Purchases Ending inventory $6,420,000
The following data are from the income statements of Haskin Company. 2016 $6,240,000 860,000 4,661,000 940,000 2017 Sales revenue Beginning inventory Purchases Ending inventory $6,420,000 940,000 4,340,000 1,020,000 2017 2016 (1) Inventory turnover 4.3 times 5.1 times (2) Days in inventory 84.9 days 71.6 days What conclusions concerning the management of the inventory can be drawn from the inventory turnover and days in inventory
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