Question
The following data were extracted from the income statement of Brecca Systems Inc.: Current Year Previous Year Sales $1,138,800 $1,182,600 Beginning inventories 61,712 88,780 Cost
The following data were extracted from the income statement of Brecca Systems Inc.: Current Year Previous Year Sales $1,138,800 $1,182,600 Beginning inventories 61,712 88,780 Cost of goods sold 569,400 657,000 Ending inventories 55,912 61,712 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 the final answers to one decimal place. Assume 365 days a year. Current Year Previous Year 1. Inventory turnover 2. Number of days' sales in inventory days days
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