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The following data were taken from the financial records of Sheridan Company. 2022 2021 Net Sales $6,310,000 $6,200,000 Beginning inventory 940,000 855,000 Purchases 4,328,000 4,662,250
The following data were taken from the financial records of Sheridan Company. 2022 2021 Net Sales $6,310,000 $6,200,000 Beginning inventory 940,000 855,000 Purchases 4,328,000 4,662,250 Ending inventory 1,000,000 940,000 (a1) Compute for each year the inventory turnover. (Round answers to 1 decimal place, e.g. 1.6.) Inventory turnover 2022 times 2021 times Purchases 4,328,000 4,662,250 Ending inventory 1,000,000 940,000 (a1) Compute for each year the inventory turnover. (Round answers to 1 decimal place, e.g. 1.6.) Inventory turnover 2022 times 2021 times (a2). 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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