The following data are taken from the financial statements:

Current Year Preceding Year

Net sales $3,592,000 $4,056,000

Cost of goods sold $2,092,000 $2,656,000

Average monthly inventory $332,000 $328,000

Inventory, end of year $372,000 $347,000

a.Determine for each year (1) the inventory turnover and (2) the days' sales in inventory.

Round inventory turnover answers to one decimal place and number of days' sales in inventory, (including intermediate calculations) to two decimal places.

Current Year Preceding Year

1.Inventory turnover

2.Number of days' sales in inventory