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The following data were extracted from the income statement of Brecca Systems Inc.: Current Year Preceding Year Sales Beginning inventories Cost of goods sold Ending
The following data were extracted from the income statement of Brecca Systems Inc.: Current Year Preceding Year Sales Beginning inventories Cost of goods sold Ending inventories $9,700,000 420,000 5,820,000 550,000 $7,175,000 400,000 4,305,000 420,000 a. Determine for each year (1) the inventory turnover and (2) the days' sales in inventory. Round to nearest dollar and one decimal place. b. What conclusions can be drawn from these data concerning the inventories
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