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The following data were extracted from the income statement of Keever Inc.: Current Year Previous Year Sales $1,445,400 $1,511,100 Beginning inventories 87,954 70,490 Cost of

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The following data were extracted from the income statement of Keever Inc.: Current Year Previous Year Sales $1,445,400 $1,511,100 Beginning inventories 87,954 70,490 Cost of goods sold 839,500 722,700 79,554 Ending inventories 87,954 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 8.6 10.6 2. Number of days' sales in inventory X days 34.4 days . The inventory turnover has decreased , while the number of days' b. The inventory position of the business has deteriorated sales in inventory has increased

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