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The following information is available for the McCartney Corporation: Sales: $750,000 Costs of goods sold: $450,000 Gross Profit: $300,000 Operating income: $85,000 Net income: $42,000
The following information is available for the McCartney Corporation: Sales: $750,000 Costs of goods sold: $450,000 Gross Profit: $300,000 Operating income: $85,000 Net income: $42,000 Inventory, beginning-year $71,200 Inventory, end of year: $48,800 Calculate the company's inventory turnover and its days' sales in inventory
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