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The following data were extracted from the income statement of Saleh Inc.: Current Year Preceding Year Sales $12,750,000 $13,284,000 Beginning inventories 840,000 800,000 Cost of
The following data were extracted from the income statement of Saleh Inc.: Current Year Preceding Year Sales $12,750,000 $13,284,000 Beginning inventories 840,000 800,000 Cost of goods sold 6,375,000 7,380,000 Ending inventories 860,000 840,000 a. Determine for each year (1) the inventory turnover and (2) the number of days sales in inventory. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume 365 days a year
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