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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) Your answer is incorrect. Compute for each year the inventory turnover. (Round answers to 1 decimal place, e.g. 1.6.) (a1) Your answer is incorrect. Compute for each year the inventory turnover. (Round answers to 1 decimal place, e.g. 1.6.) Inventory turnover 2022 2.04 times 2021 1.71 times (a2) Your answer is incorrect. 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 178.92 days 2021 213.45 days
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