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The following data were taken from the financial records of Oriole Company. 2022 2021 Net sales $6,500,000 $6,230,000 Beginning inventory 995,000 810,000 Purchases 4,591,250 4,607,250
The following data were taken from the financial records of Oriole Company. 2022 2021 Net sales $6,500,000 $6,230,000 Beginning inventory 995,000 810,000 Purchases 4,591,250 4,607,250 Ending inventory 1,030,000 995,000 Compute for each year the inventory turnover. (Round answers to 1 decimal place, e.g. 1.6.) Inventory turnover eTextbook and Media 2022 times 2021 times Compute for each year the days in inventory. (Use 365 days for calculation. Round answers to 1 decimal place, e.g. 1.6.) Days in inventory 2022 days 2021 days
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